Items Tagged with 'Loan sale'

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Freddie Mac selling off $292 million in previously modified loans

Re-performing loans will be re-securitized by Freddie Mac
Freddie Mac announced Thursday that it intends to sell off approximately $292 million in previously modified loans from its investment portfolio. According to details provided by the government-sponsored enterprise, the pool of loans consists of loans with step-rate modifications and loans modified under GSE proprietary modifications.
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Fannie Mae sells $1.62 billion in re-performing loans to Credit Suisse subsidiary

Closes sale of 7,500 loans to DLJ Mortgage Capital
Fannie Mae announced Thursday that it completed its second sale of re-performing loans, selling more than $1.6 billion in re-performing loans to a subsidiary of Credit Suisse. Here are the details on the latest mortgage purchase for DLJ Mortgage Capital, which also recently bought up more than $4.6 billion in loans from HSBC.
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Fannie Mae to sell $1.65 billion in re-performing loans

GSE announces second sale of previously delinquent loans
Fannie Mae's sale $1.68 billion in non-performing loans to private equity funds, one of which is a subsidiary of Goldman Sachs, wasn't the only loan sale the government-sponsored enterprise announced on Tuesday.The GSE also announced its second sale of re-performing loans, which will be much larger that its first such sale.
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Fremont Faces Default Under Loan Purchase Contracts

Beleaguered Fremont General Corp. said Tuesday that it had received default notices from two unnamed third parties that had purchased a total of $3.15 billion of residential subprime mortgages from the lender last March. The former subprime lending giant had sold the loans under terms requiring it to maintain a tangible net worth of at least $250 million, as part of the loan sale agreements.
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Fremont Finds Buyer for Majority of Subprime Business

Fremont General Corporation (NYSE:FMT) said early Monday that its subprime mortgage lending operation, Fremont Investment & Loan, will sell approximately $2.9 billion of its sub-prime residential real estate loans. The company also said in a press statement that it has entered into exclusive negotiations with the same institution under an executed letter of intent to sell most of its residential real estate business and assets, although it did not identify the possible purchaser. Calls to the company seeking clarification were not returned prior to HW publishing this story.
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