The NPL sold by the enterprises had an average delinquency of three years and a loan-to-value ratio of 92%. Fannie accounted for 78,281, or two-thirds, of these sales between Jan. 1 and June 30.
Nonbanks have increased their role in the selling and servicing of Fannie/Freddie mortgages. Nonbanks also sell somewhat riskier loans for which the GSEs are paid higher guarantee fees.
Fannie Mae and Freddie Mac got proportionally more of their single-family business from large-volume sellers in the first quarter, although production was down sharply in every seller category. [Includes two data charts.]
Mortgage sellers repurchased just $833.7 mil-lion of single-family loans from Fannie Mae and Freddie Mac mortgage-backed securities last year, according to a new Inside the GSEs analysis. [Includes one data chart.]
California-based Sabal Capital Partners, one of the earliest partners in Freddie Mac’s Small Balance Loan Program, broke a record this month when it sold the enterprise a portfolio of 39 small-balance loans worth $189 million. All the underlying properties are in East Harlem.
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