Items Tagged with 'delinquent mortgage'

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Here's why Goldman Sachs is snatching up delinquent mortgages

Bank dominates Fannie Mae non-performing loan sales
Goldman Sachs’ purchase of a portfolio of non-performing loans from Fannie Mae earlier this week marked only the latest in a long string of purchases of severely delinquent home loans from the government-sponsored enterprise. The major purchase spree, however, is part of a larger plan for the mega bank. In particular, it deals with its $5 billion settlement announced last year.
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Urban Institute: Selling NPLs to investors is working

Four ways to improve sales
Researchers from the Urban Institute are already on the record with their view that more pools of non-performing loans need to be sold to private investors, but a new article posted on the Urban Institute's Urban Wire blog on Housing and Housing Finance suggests that more steps need to be taken to ensure a mutually beneficial result for all parties involved in a non-performing loan sale.
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Fannie Mae selling $1.4 billion in non-performing loans

Sale includes five pools of loans
Fannie Mae announced Tuesday its latest sale of non-performing loans, which includes Fannie Mae’s second sale of a smaller pool of non-performing loans that are specifically targeted for placement with “smaller investors, non-profit organizations and minority- and women-owned businesses.”
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Urban Institute: More non-performing loans should be sold to private investors

New report shows private investors 'can do more for borrowers'
While some prominent figures in the federal government, including Sen. Elizabeth Warren, D-Mass., and Rep. Mike Capuano, D-Mass, have loudly criticized the government’s practice of selling non-performing loans to private investors, a new report from the Urban Institute suggests that selling NPLs to the private sector is actually a good thing.
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Fannie Mae picks non-profit for first small sale of non-performing loans

Completes first “Community Impact Pool” sale
Fannie Mae announced the winner of its first sale of non-performing loans as part of its “Community Impact Pool” program, which consists of smaller pools of non-performing loans and is designed to attract diverse participation by non-profits, small investors and minority- and women-owned businesses. Click here to read more.
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Freddie Mac selling $233 million pool of Ocwen-serviced loans

Non-performing loans are “deeply delinquent”
Freddie Mac announced Tuesday that it is preparing to auction off a $233 million pool of non-performing loans, which are serviced by Ocwen Financial, which said in December that it plans to exit agency servicing entirely. Is Freddie Mac done with Ocwen too?
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Fitch: GSE non-performing loan sales will help banks too

Fannie and Freddie sales could spur NPL market
The recent push by Fannie Mae and Freddie Mac to offload pools of non-performing loans could help more than just the GSEs, according to a new report from Fitch Ratings. The non-performing loan market could be poised for a surge.
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