Impact Funding LLC Completes $302M Securitization

Funding LLC, a wholly owned subsidiary of Impact Community Capital LLC, has closed a $302 million securitization of affordable multifamily mortgage loans. The securitization is officially known as ‘Impact Funding Affordable Multifamily Housing Mortgage Loan Trust 2010-1’ and consists of 176 first-mortgage loans on affordable multifamily properties located in 24 states, including 100 properties located in California. Barclays Capital Inc. acted as initial purchaser, sole manager and bookrunner for the transaction. The securitization was rated by Standard & Poor's Ratings Services. Pacific Life Insurance Co. is the master servicer and special servicer, and Wells Fargo Bank NA is the trustee for the securitization. Impact Community Capital LLC and its affiliates were represented in the securitization by Dechert LLP. Impact 2010-1 is the third securitization transaction sponsored by Impact Community Capital LLC following its $40.3 million Impact Funding 2000-A LLC securitization and its $164.2 million Impact Funding 2001- A securitization. SOURCE: [link=]Impact Community Capital LLC


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