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Huge Reperforming GSE Loan Offering

Nearly $2 billion in residential loans that were previously classified as delinquent are being offered for sale to the highest bidder.

The proposed loan sale is for 9,400 Federal National Mortgage Association loans with a collective unpaid principal balance of $1.97 billion.

Loans being offered for sale had previously been delinquent but are now reperforming again. Loan modifications were involved on some of the mortgages.

Source: Mortgage Daily