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Fannie Mae to Publish Reperforming Loan Data

dsnews.com | June 6, 2016

By Brian Honea

How are delinquent residential single-family mortgage loans modified by Fannie Mae performing after their modifications? The industry is about to find out.

Fannie Mae announced on Monday it will release historical data on a portion of the loan modifications the Agency completed on delinquent loans. The purpose of publishing this data is to give the industry a greater ability to analyze the performance of loans that were modified in support of the Agency’s reperforming loan (RPL) securitization program that was announced in April, according to Fannie Mae.

“The market for Agency RPL securities is relatively new, and we are providing this information so that the industry can get an in-depth view of the underlying loan performance,” said Bob Ives, Head of Retained Portfolio Asset Management, Fannie Mae. “This historical data release should allow for a greater understanding of these loans and enable better modeling which in turn should foster greater liquidity for these securities.”

The historical data on about 700,000 Fannie Mae-backed loans modified between 2010 and 2015 will be made available in July and will be available for about six months, according to Fannie Mae.

Fannie Mae announced on April 25 that it would begin its securitizing reperforming loans, which are currently performing mortgage loans that were previously delinquent but were restored to performing status either with or without the assistance of a loan modification plan.

Fannie Mae may sell the mortgage-backed securities to investors, thus reducing the size of its mortgage-related investments portfolio. The securitization of reperforming loans by Fannie Mae is designed to benefit all parties involved, including taxpayers. Fannie Mae expects to begin securitizing the reperforming loans in the second half of 2016.

“With these securitizations we’ll have more flexibility to manage our risk and reduce the size of our portfolio,” said Ives said. “Over the long run, these securitizations can benefit investors, Fannie Mae, and taxpayers.”

 

 

 

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CFLA was founded by the Nation's Leading Foreclosure Defense Attorneys back in 2007 to serve the Foreclosure Defense Industry and fight pervasive Bank Fraud. Since opening our virtual doors, CFLA has rapidly expanded to become the premier online legal destination for small businesses and consumers. But as the company continues to grow, we're careful to hold true to our original vision. For us, putting the law within reach of millions of people is more than just a novel idea—it's the founding principle, just ask Andrew P. Lehman, J.D.. With convenient locations in Houston and Los Angeles, you can contact Our National Account Specialist and General Manager / Member Damion W. Emholtz at 888-758-2352 for a free Mortgage Fraud Analysis or to obtain samples of work product, including cutting edge Bloomberg Securitization Audits, Litigation Support, Quiet Title Packages, and for more information about our Nationally Accredited and U.S. Department of Education Approved "Mortgage Securitization Analyst Training Certification" Classes (3 days) 24 hours for approved CLE & MCLE Credit (Now Available Online).

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