Fannie Mae announces sale of non-performing loans
Fannie Mae announced its latest sale of non-performing loans, including the company's thirteenth Community Impact Pool. Community Impact Pools are typically smaller pools of loans that are geographically-focused, and marketed to encourage participation by non-profit organizations, minority- and women-owned businesses, and smaller investors. The four larger pools include approximately 10,300 loans totaling $1.71B in unpaid principal balance and the Community Impact Pool of approximately 700 loans totaling $134.53M in UPB. The Community Impact Pool consists of loans geographically located in the metro areas of New Jersey, New York, Cook County Illinois, Baltimore, Maryland and Miami, Florida. All pools are available for purchase by qualified bidders. This sale of non-performing loans is being marketed in collaboration with Bank of America Merrill Lynch and The Williams Capital Group, as advisors.