Fannie Mae Announces Sale of Non-Performing Loans and Community Impact Pool

Alicia Jones

202-752-5716

WASHINGTON, DC – Fannie Mae (FNMA/OTCQB) began marketing its latest sale of non-performing loans, including the company's sixteenth 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 (MWOBs), and smaller investors.

The four larger pools include approximately 5,400 loans totaling $986.4 million in unpaid principal balance (UPB) and the Community Impact Pool of approximately 90 loans totaling $21 million in UPB. The Community Impact Pool consists of loans geographically located in Miami-Dade area. All pools are available for purchase by qualified bidders. Interested bidders can register here, at https://www.fanniemae.com/portal/funding-the-market/npl/index.html.

This sale of non-performing loans is being marketed in collaboration with Bank of America Merrill Lynch and First Financial Network, Inc. as advisors.

Bids are due on the four larger pools on October 3 and on the Community Impact Pool on October 22.

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.