Fannie Mae has released historical performance data on a portion of its modified single-family loans.
The data applies to 700,000 loans that were modified due to delinquency, Fannie Mae said in a news release. The release was made ahead of the reperforming loan securitization program that the government-sponsored enterprise previewed in April.
"We are pleased to share this data, which will enable investors to better understand the expected performance of agency MBS backed by our reperforming loans," said Bob Ives, Fannie Mae's head of retained portfolio asset management, in the release.
Back in April, Fannie Mae announced plans to begin securitizing reperforming loans held on its balance sheet in the second half of 2016. Fannie Mae could later sell those securities to investors to reduce the size of its retained mortgage portfolio if there is enough market interest.
Ginnie Mae began drawing up plans to securitize modified and reperforming loans
