On March 2, 2015 the Federal Housing Finance Agency (FHFA) announced enhanced requirements for sales of non-performing loans (NPLs) by Freddie Mac and Fannie Mae (the Enterprises). FHFA approved NPL sales by the Enterprises to reduce the number of severely delinquent loans held in their inventories and to transfer risk to the private sector. "FHFA expects that with these enhanced requirements, NPL sales by Freddie Mac and Fannie Mae will result in more favorable outcomes for borrowers and local communities, while also reducing losses to the Enterprises and, therefore, to taxpayers," said FHFA Director Melvin L. Watt. "Under the requirements announced today, servicers must consider borrowers for a range of alternatives to foreclosure," Watt said.
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