Fannie and Freddie escalate nonperforming loan sales
Fannie and Freddie escalate nonperforming loan sales
Abstract
The government-sponsored enterprises sold 24,164 nonperforming loans last year from a portfolio of 79,591 that they held as of Dec. 31, 2020. The sales consist of loans in the portfolio for at least a year. In the pandemic year of 2020, units sold totaled just 4,051 or 8% of the total 51,512 held on December 31, 2019. The GSE nonperforming loan portfolio zoomed up to 208,147 loans during 2021. That will likely lead to a ramp up in NPL sales during 2022. The sales will likely be more likely. Since these sales started, Fannie Mae and Freddie Mac sold 154,972 NPLs.
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