WASHINGTON–Fannie Mae said it has now begun marketing its most recent sale of reperforming loans as part of the its ongoing effort to reduce the size of its retained mortgage portfolio.

The sale consists of approximately 3,141 loans, having an unpaid principal balance of approximately $559.8 million, and is available for purchase by qualified bidders. Interested bidders can register here

This sale of reperforming loans is being marketed in collaboration with Citigroup Global Markets, Inc. Bids are due on March 26, 2025, according to Fannie Mae.

The secondary mortgage giant explained that reperforming loans are loans that have been or are currently delinquent but have reperformed for a period of time. 

The Requirements

“The terms of Fannie Mae’s reperforming loan sale require the buyer to offer loss mitigation options to any borrower who may re-default within five years following the closing of the reperforming loan sale,” the company said. “All purchasers are required to honor any approved or in-process loss mitigation efforts at the time of sale, including loan modifications. In addition, purchasers must offer delinquent borrowers a waterfall of loss mitigation options, including loan modifications, which may include principal forgiveness, prior to initiating foreclosure on any loan.”