What's Going On Here: Goldman Is Aggressively Buying Up Delinquent Mortgages

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What's Going On Here: Goldman Is Aggressively Buying Up Delinquent Mortgages

Mar, 20th 2017

Goldman Sachs’ purchase of a portfolio of non-performing loans from Fannie Mae earlier this week marked only the latest in a long string of purchases of severely delinquent home loans from the government-sponsored enterprise, according to an article in The Wall Street Journal by Liz Hoffman and Serena Ng.

Over the past year and a half, the article stated, Goldman Sachs acquired nearly two-thirds of $9.6 billion in loans Fannie Mae auctioned off.

While Goldman Sachs didn’t take the all the loan pools from Fannie Mae in the most recent sale, it did purchase three of the four non-performing loan pools, with a total of $1.43 billion in unpaid principal balance.

The purchases are completed by MTGLQ Investors, a "significant subsidiary" of Goldman Sachs.

Given its commitment to buying delinquent...

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