PR Newswire
WASHINGTON, Nov. 22, 2017
WASHINGTON, Nov. 22, 2017 /PRNewswire/ -- Fannie Mae (OTC Bulletin Board: FNMA) today announced the winning bidders for its ninth and tenth Community Impact Pools of non-performing loans. The transaction is expected to close on January 12, 2018, and includes approximately 690 loans totaling $124.12 million in unpaid principal balance (UPB), divided between two pools; the loans in pool 1 are in a larger geographically dispersed area and the loans in pool 2 are in New York City. The winning bidders for the transaction were the Community Loan Fund of New Jersey Inc. (NJCC) for Pool 1 and Preserving City Neighborhoods Housing Development Fund Cooperation for Pool 2. Both firms are non-profit entities.
In collaboration with Bank of America Merrill Lynch and First Financial Network, Inc., Fannie Mae began marketing these loans to potential bidders on October 11, 2017.
The loan pools awarded in this most recent transaction include:
The cover bids, which are the second highest bids, for the Community Impact Pools are 85.02% of UPB (55.26% of broker's price opinion) for Pool 1 and 89.87% of UPB (43.66% of broker's price opinion) for Pool 2.
On September 27, 2017, the Federal Housing Finance Agency announced additional enhancements to its requirements for sales of non-performing loans by Fannie Mae and Freddie Mac that build on requirements originally announced in March 2015 and apply to this Fannie Mae non-performing loan sale. These added enhancements encourage sustainable modifications that have the potential to give more borrowers the opportunity for home retention by requiring evaluation of underwater borrowers for modifications that may include principal and/or arrearage forgiveness; forbidding "walking away" from vacant homes; and establishing more specific proprietary loan modification standards.
Potential buyers can register for ongoing announcements or training, and find more information on Fannie Mae's sales of non-performing loans and on the Federal Housing Finance Agency's guidelines for these sales, at http://www.fanniemae.com/portal/funding-the-market/npl/index.html.
Fannie Mae helps make the 30-year fixed-rate mortgage and affordable rental housing possible for millions of Americans. We partner with lenders to create housing opportunities for families across the country. We are driving positive changes in housing finance to make the home buying process easier, while reducing costs and risk. To learn more, visit fanniemae.com and follow us on twitter.com/fanniemae.
View original content:http://www.prnewswire.com/news-releases/fannie-mae-announces-winners-of-ninth-and-tenth-community-impact-pools-of-non-performing-loans-300560993.html
SOURCE Fannie Mae
Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte.