Fannie Mae Selling Off Five More Pools Of NPLs

Fannie Mae is selling off more of its nonperforming loans.

The government-sponsored enterprise announced last week that it is auctioning four larger pools of approximately 6,900 loans totaling $1.08 billion in unpaid principal balance (UPB), as well as a Community Impact Pool of approximately 120 loans, focused in the Miami area, totaling $20.7 million in UPB.

Bids for the four larger pools are due on Aug. 30, and bids for the Community Impact Pool are due on Sept. 15.

Wells Fargo Securities and The Williams Capital Group are acting as advisors.

The Community Impact Pool is the fifth that the company has offered. This smaller pool of loans is geographically focused and high occupancy. It is being marketed to encourage participation by smaller investors, nonprofit organizations, and minority- and women-owned businesses.

“We continue to strive to help struggling homeowners and neighborhoods recover,” says Joy Cianci, senior vice president of single-family credit portfolio management for Fannie Mae. “Today’s announcement of our nonperforming 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. These transactions require the owner of the loan to market the property to owner-occupants and nonprofits exclusively before offering it to investors when a foreclosure cannot be prevented – similar to Fannie Mae’s FirstLook program.


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