The long-awaited boom in nonperforming loan sales may finally be here, as megabanks such as Wells Fargo, Citigroup and HSBC have begun testing investor appetites by offering large packages in the open market. According to investors and advisors who play in the space, Wells recently auctioned off an $800 million NPL package and HSBC sold a $750 million portfolio. Recently, Popular Bank said that it entered...
Non-agency MBS execution is competitive with agency MBS execution for purchase mortgages with loan-to-value ratios below 70 percent and credit scores above 740.
Come next year, Freddie Mac will assess lenders a fee of $7,500 if they fail to deliver mortgage loans with an aggregate principal balance of more than $5 million.