Fannie Mae has announced the results of its seventeenth sale of Community Impact Pool (CIP) of non-performing loans, with Great Ajax Operating Partnership LP the winning bidder of 400 loans totaling $96.9 million in unpaid principal balance (UPB), geographically focused in the Miami area.
The pools were marketed with BofA Securities Inc. and First Financial Network Inc. as advisors.
The loan pool awarded in this transaction include:
CIP Pool: 400 loans with an aggregate UPB of $96,878,051; average loan size of $242,195; weighted average note rate of 4.05%; and weighted average broker’s price opinion (BPO) loan-to-value ratio of 80%.
The cover bid, which is the second highest bid, for the CIP was 95.59% of UPB (62.70% of BPO).
The transaction is expected to close on August 20, 2021.
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