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| Large Non-Performing GSE Portfolio Sells
Portfolio hit market last month
Oct. 11, 2018
By Mortgage Daily staff
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A significant portfolio of non-performing government-sponsored enterprise single-family loans that hit the market last month has found a buyer.
In September, the Federal National Mortgage Association offered a portfolio of 10,780 non-performing mortgages with an aggregate unpaid principal balance of $1.98 billion for sale to the highest bidder.
The winning bidder is required to pursue sustainable loss mitigation options for borrowers and market foreclosed properties first to to owner-occupants and non-profits exclusively before offering them to investors. |
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