Joy Peppers
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WASHINGTON, October 7, 2021 / PRNewswire / – Fannie Mae (OTCQB: FNMA) today began marketing its 23rd reproductive loan sale as part of the company’s continued efforts to reduce the size of its retained mortgage portfolio.
The sale consists of approximately 18,800 loans, of which the principal outstanding is approximately $ 2.9 billion, and is available for purchase from qualified bidders. Interested bidders can register here.
This reproductive loan sale is marketed in conjunction with Citigroup Global Markets, Inc. Offers are due on November 2, 2021.
Reproductive loans are loans that have been or are currently in arrears, but which have been repaid for a period of time.
The terms of the sale of the Fannie Mae Reproductive Loan require the buyer to offer loss mitigation options to any borrower who defaults within five years of the closing of the sale of the reproductive loan. All buyers are required to honor all loss mitigation efforts approved or in progress at the time of sale, including forbearance agreements and loan modifications. Additionally, after closing, buyers should offer defaulting borrowers a series of loss mitigation options, including loan modifications, which may include a principal discount, before initiating foreclosure on a loan.
Interested bidders can register to receive announcements, training and other current information here. Fannie Mae will also post information on specific pools available for purchase on this page.
About Fannie Mae
Fannie Mae is helping make 30-year fixed rate mortgage and affordable rental housing possible for millions of people in America. We work in partnership with lenders to create housing opportunities for families across the country. We are driving positive changes in housing finance to make the home buying process easier, while reducing costs and risks. To learn more, visit:
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