ENTERPRISE NON‐PERFORMING LOAN SALES REPORT
Introduction
T his report provides transparency into the Enterprises’ sales of NPLs and borrower outcomes post‐sale. The report tracks the following key information:
The borrower outcome data are preliminary. In many cases the new servicer has had only a short time since the servicing transfer to engage borrowers. As a result, most of the NPLs are reported as “Not Resolved.” Loans for which performance data is included constitute just 21 percent of the total loans sold by the Enterprises to date; performance data on the remaining loans will be provided in future reports.
Highlights: NPL Sales
● Through May 2016, the Enterprises sold 41,649 NPLs with an aggregate unpaid principal balance (UPB) of $8.5 billion. The loans included in the NPL sales had an average delinquency of 3.4 years and an average current LTV ratio of 98 percent, not including capitalized arrearages. The average delinquency for pools sold ranged from 1.8 to 6.3 years.
● Freddie Mac has sold 26,436 loans with an aggregate UPB of $5.3 billion, an average delinquency of 3.1 years, and an average LTV of 100 percent.
● Fannie Mae has sold 15,213 loans with an aggregate UPB of $3.1billion, an average delinquency of 4.0 years, and an average LTV of 94 percent.
● New Jersey, New York, and Florida account for 49 percent of NPLs sold. These three states also account for 47 percent of the Enterprises’ loans that are 1 year or more delinquent as of 12/31/2014.
● A nonprofit organization, Community Loan Fund of New Jersey, was the winning bidder on 5 of 6 CIP or EXPO pools that settled by May 2016 and is a service provider for the sixth pool.
Full report below…
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4closureFraud.org
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FHFA NON‐PERFORMING LOAN SALES REPORT
Non-performing means they were oversold by being overrated in the first place so they don’t exist.
The complexity of how they’re structured is hiding the reason they failed was upon the onset of what they were issuing was fraud & nothing can correct it.
They’re selling what never lived by zombification.