At Least $15 Billion in NPLs Will Trade This Yearpmuolo@imfpubs.com
With Fannie Mae and Freddie Mac poised to sell some of their nonperforming mortgages this year, upwards of $15 billion in such product could change hands over the next 10 months, according to players in the market.
One NPL trader told Inside Mortgage Finance that his firm is coming off of its best year ever as a broker of re-, sub- and non-performing product, although he did not want to be quoted by name.
He noted that at the recent American Securitization Forum conference in Las Vegas, Wall Street firms were talking privately about the NPL market picking up steam this year, including the entry of Fannie Mae into the arena. IMF reported on this development last week.
The GSEs won't be the only agencies selling. Large offerings are in the works from the FHA as well. See an update later in the week from IMF.
Well just when you think the damn Government had your back, they threw us back to the wolves again. Banks don't own your house loans , private investors do! hedge-funds! The SEC and the GOV got all the money they can off us, soaking the big banks saying it was for helping the people done wrong by the banks, so now that were worthless in their eyes , they have thrown us to the wolves. How many of you have seen a dime from any of these payouts supposedly for the homeowners??Our Gov officials are no better than the pigs who did this to begin with. The Judges are even handing over homes that don't belong to these hedge funds . Where is the justice? When do we get our turn?