Fannie Mae Announces (Another) Sale of Non-Performing Loans, Including Community Impact Pools

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Fannie Mae Announces Sale of Non-Performing Loans, Including Community Impact Pools

WASHINGTON, DC – Fannie Mae (FNMA/OTC) announced its latest sale of non-performing loans, including the fifth Community Impact Pool that the company has offered. This smaller pool of loans is geographically-focused, high occupancy, and is being marketed to encourage participation by smaller investors, non-profit organizations, and minority- and women-owned businesses (MWOBs).

The four larger pools of approximately 6,900 loans totaling $1.08 billion in unpaid principal balance (UPB) and the Community Impact Pool of approximately 120 loans, focused in the Miami, Florida area, totaling $20.7 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.

“We continue to strive to help struggling homeowners and neighborhoods recover,” said Joy Cianci, Fannie Mae’s Senior Vice President, Single-Family Credit Portfolio Management. “Today’s announcement of our non-performing loan sale furthers this commitment by expanding the opportunities available for borrowers to avoid foreclosure.”

Fannie Mae previously offered Community Impact Pool sales in 2015 and early 2016.

Bids are due on the four larger pools on August 30th and on the Community Impact Pool on September 15th.

Among other elements, terms of Fannie Mae’s non-performing loan transactions require that when 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 can register for future announcements, training and other information at http://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.

SOURCE: http://www.fanniemae.com

This is non-performing loan sale marks the seventh sale from Fannie Mae since they announced the commencement of this transactions with the intentions to reduce the number of seriously delinquent loans that Fannie Mae owns, help stabilize neighborhoods, and offer borrowers access to additional foreclosure prevention options.

A recap of Fannie Mae’s six previous NPL sales:

  • July 20169,300 loans totaling $1.5 billion in UPB, divided among six pools; winning bidders for the transaction are LSF9 Mortgage Holdings, LLC (Lone Star) and PRMF Acquisition LLC (Neuberger Berman), with three pools going to each bidder.
  • May 20167,900 loans totaling $1.48 billion in UPB, divided amongst four pools; winning bidder for the transaction is Goldman Sachs (MTGLQ Investors, L.P.) for all four pools.
  • February 20166,500 loans totaling $1.32 billion in unpaid principal balance, divided amongst four pools; winning bidders for the transaction, are Canyon Partners (Carlsbad Funding Mortgage Loan Acquisition, LP) for the first pool, Pretium Mortgage Credit Partners I Loan Acquisition, LP for the second pool and Goldman Sachs (MTGLQ Investors, L.P.) for the third and fourth pool.
  • October 20157,000 loans, three pools, $1.24 billion in UPB; winning bidders were Fortress (New Residential Investment Corp.) for the first and third pools and Goldman Sachs for the second pool.
  • July 20153,900 loans, two pools, $765 million in UPB; both pools were won by Lone Star (LSF9 Mortgage Holdings). In addition to these two pools, Fannie Mae conducted a Community Impact Pool auction that included 71 loans in Florida totaling $10 million in UPB. The winning bidder was a non-profit, New Jersey Community Capital.
  • April 2015—3,000 loans, two pools, $762 million in UPB; winning bidders were SW Sponsor for the first pool and Neuberger Berman Fixed Income Funds’ affiliate PRMF Acquisition for the second pool.
  • Totals (including the sale just announced)44,500 loans, $8.1 billion in UPB

Additionally, Fannie Mae previously offered Community Impact Pool sales in 2015 and early 2016.

No wonder why foreclosures are down…

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4closureFraud.org

Comments
3 Responses to “Fannie Mae Announces (Another) Sale of Non-Performing Loans, Including Community Impact Pools”
  1. lvent says:

    I called the slave masters one day regarding the loan mod denial by who I was told was the U.S. TREASURY DEPARTMENT.

    The slave master rep who was obviously speaking on behalf of some dead party said they have no say so over what the services do – LOL.

    They should call some exorcists to get the demons out of the building because CORPORATE RESOLUTIONS don’t hide they’re occult practices.

    Moreover, they should do the exorcisms live on tv because that would boost the economy legitimately.

  2. lvent says:

    FANNIE MAESOLEUM is what they should call themselves because they’re entombed with the FRAUD of dead entities they think they can enshrine in the name of our TITLES by IDENTITY THEFT.

  3. lvent says:

    They’re INVESTMENT BROKERS therefore they FRAUDULENTLY INVEST in the risk they create so there’s no way they could ever prove loss.

    Who is on their BOARD OF DIRECTORS? Probably MORGAN STANLEY.

    Moreover, what’s in their IN-HOUSE INVESTMENT PORTFOLIOS because that’s FRAUD FOR PROFIT by CRIMINAL RACKETEERING.

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