Fannie Mae is auctioning five pools of non-performing loans (NPLs) totaling $1.95 billion in unpaid principal balance (UPB) and a smaller Community Impact Pool of approximately 80 loans totaling $28.7 million in UPB.
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, and smaller investors.
The Community Impact Pool consists of loans geographically located in New York City.
The sale represents Fannie Mae’s 14th NPL sale as it continues to divest itself of its riskier assets. The sale is being marketed in collaboration with Bank of America Merrill Lynch and First Financial Network Inc. as advisors.
Bids are due on the five larger pools on October 4 and on the Community Impact Pool on October 23.
