Excerpt: “The Federal Housing Finance Agency (FHFA) today released a report on non-performing loans (NPLs) sold by by Fannie Mae and Freddie Mac (the Enterprises) through the first half of 2024. The Enterprise Non-Performing Loan Sales Report also provides information about how NPL sales through December 31, 2023, led to better outcomes for borrowers. Since the program’s inception in 2014, the report shows, the Enterprises have sold 171,333 NPLs with a total (UPB) of $31.4 billion through June 30, 2024. The loans included in these NPL sales had an average delinquency of 2.8 years and an average current mark-to-market loan-to-value (LTV) ratio of 82 percent. Foreclosure was avoided for borrowers in 40 percent of 165,643 loans sold.”
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