Fannie Mae announces sale of non-performing loans

Fannie Mae announced its latest sale of non-performing loans as part of the company’s ongoing effort to reduce the size of its retained mortgage portfolio, including the company’s twenty-fourth Community Impact Pool. The one large pool includes approximately 1,205 deeply delinquent loans totaling $221.9M in unpaid principal balance, and the CIP includes approximately 52 deeply delinquent loans totaling $14.5M in UPB. The CIP consists of loans geographically located in the New York area. All pools are available for purchase by qualified bidders. This sale of non-performing loans is being marketed in collaboration with BofA Securities, Inc. and First Financial Network, Inc., a woman-owned and -controlled business, as advisors. Bids are due on the one large pool by May 2, 2024, and on the CIP by May 16, 2024.