Thursday, September 08, 2016

Fannie Mae sells $1 billion in NPLs to Goldman Sachs subsidiary, private equity. GSE announces winners of 7th auction.

The Housing Wire reports:
In what is becoming a frequent occurrence, Fannie Mae announced Tuesday that it sold a large portfolio of non-performing loans to a collection of private equity funds and a subsidiary of Goldman Sachs.

The government-sponsored enterprise said Tuesday that it sold off $1.06 billion in non-performing loans from its portfolio, with some now-familiar names making up the buyer pool.
Loans that shouldn't have been made in the first place wind up at Goldman for a nice price. Just a reminder, the next time someone yells about inequality.