Fannie Mae and Freddie Mac both recently announced the winners of their latest nonperforming loan auctions, which included eight separate pools amounting to $2.4 billion. The largest sale was from Fannie and consisted of 10,300 loans totaling $1.88 billion divided among five pools, all won by MTGLQ Investors, a subsidiary of Goldman Sachs.
Freddie Mac closed on a low-income housing tax credit sale late last week after reentering the market for the first time in a decade. Up until the fourth quarter of last year, the GSEs haven’t been allowed to participate in the LIHTC market since they’ve been in conservatorship.
The Senate Banking, Housing and Urban Affairs Committee next week is expected to push officials from Fannie Mae, Freddie Mac and the Federal Housing Finance Agency on controversial pilot programs that have drawn the ire of certain industry factions.
In his report, KBW analyst Bose George said, “While Mel Watt, director of the FHFA, was questioned about some of these issues in past congressional hearings, this will be the first hearing to focus exclusively on this topic.”
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