The Federal Housing Finance Agency (FHFA) on Tuesday released an update about the sales of non-performing loans (NPLs) through the government-sponsored enterprises (GSEs), saying the data has shown a steady drop in mortgage delinquencies since the start of COVID-19 pandemic.

“The [NPL] sales program reduces the number of deeply delinquent loans in the Enterprises’ portfolios and transfers credit risk to the private sector,” FHFA explained. “FHFA and the Enterprises impose requirements on NPL buyers designed to achieve more favorable outcomes for borrowers than foreclosure.”

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