Fannie Mae Offers Largest Delinquent Loan Sale to Date $1.24B

[Bob Malecki]

Here is a recent announcement about Fannie Mae selling off another large pool of NPLs:

The NPL offering announced Tuesday (FNMA 2016-NPL1) includes 6,700 loans totaling $1.35 billion in aggregate unpaid principal balance (UPB), making it the largest Fannie Mae NPL sale of the four in terms of UPB. The previous largest was $1.24 billion in November 2015.

This is an indicator that a good amount of inventory will be available to the small investor once it "trickles down" through the various funds that will purchase them then sell off the unwanted assets. Both Fannie and Freddie are continuing and increasing the liquidation of their NPL assets to the secondary market so it looks like we will have more inventory later this year. 

http://www.dsnews.com/news/01-12-2016/fannie-mae-offers-largest-delinquent-loan-sale-to-date

[Leigh C]

6700 notes...odds are fortress will get them and just take them to market as REOs or as "fixed loans".    Previous sales go way too close to BPO value for anyone that actually still uses a pad and paper to make decisions.