Fannie Mae’s sales of reperforming loans are on the rise
Sales of reperforming loans nosedived in 2020 as the pandemic took root in America, but sales volume appears to have recovered with vigor, based on an analysis of RPL offerings for government-sponsored enterprise Fannie Mae.
The GSE earlier this month announced its 23rd sale of reperforming loans, which are defined by Fannie Mae as mortgages that were previously delinquent but are performing again because payments have become current — with or without the use of a modification plan.
Including the recent October offering, Fannie Mae year to date has put on the market some 100,000 reperforming loans across five offerings with an aggregate unpaid principal balance of $14.5 billion, according to an analysis of the GSE’s records. By comparison, over the same period in 2020, a total of 57,235 RPLs were put on the sales block by Fannie Mae through four pool offerings that collectively had a total unpaid principal balance of $8.7 billion — or a bit more than half of the RPL sales volume recorded this year and $5.7 billion shy of the 2021 aggregate value mark.
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The post Fannie Mae’s sales of reperforming loans are on the rise appeared first on HousingWire.