Fannie Mae Announces Sale of Non-Performing Loans

Alicia Jones

202-752-5716

WASHINGTON, DC – Fannie Mae (FNMA/OTC) today announced its latest sale of non-performing loans, including the company’s seventh and eighth Community Impact Pools. Community Impact Pools are smaller pools of loans that are geographically-focused, high occupancy, and marketed to encourage participation by non-profit organizations, minority- and women-owned businesses (MWOBs), and smaller investors.

The three larger pools of approximately 3,600 loans totaling $613 million in unpaid principal balance (UPB) and the Community Impact Pools of approximately 135 loans, focused in the New York and New Jersey areas, totaling $34.47 million in UPB, are available for purchase by qualified bidders. This sale of non-performing loans is being marketed in collaboration with Wells Fargo Securities, LLC and The Williams Capital Group, L.P., as advisors.

Bids are due on the three larger pools on June 1 and on the Community Impact Pools on June 14.

Among other elements, terms of Fannie Mae’s non-performing loan transactions require the buyer of the non-performing loans to pursue loss mitigation options that are sustainable for borrowers.  In the event a foreclosure cannot be prevented, the owner of the loan must market the property to owner-occupants and non-profits exclusively before offering it to investors, similar to Fannie Mae’s FirstLook^® program.

Interested bidders are invited to register for future announcements, training and other information at https://www.fanniemae.com/portal/funding-the-market/npl/index.html. Fannie Mae will also post information about specific pools available for purchase on that page.