Fannie Mae (OTCQB: FNMA) has announced a new sale of non-performing loans, including two larger pools totaling approximately 1,119 deeply delinquent loans worth $198.6 million in unpaid principal balance (UPB), and a Community Impact Pool (CIP) of about 40 loans valued at $7.2 million UPB located in Florida.
The sale, marketed with BofA Securities and First Financial Network, requires bids by May 15, 2025 for the larger pools and May 27, 2025 for the CIP. Buyers must follow strict terms, including offering sustainable loss mitigation options to borrowers and honoring existing loan modifications. If foreclosure is unavoidable, properties must first be marketed to owner-occupants and non-profits before investors, similar to Fannie Mae's FirstLook® program.
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