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Fannie Mae has announced its latest sale of non-performing loans as part of its efforts to reduce the volume of its retained mortgage portfolio, including its 22nd Community Impact Pool (CIP).
In a news release, the company said the one large pool includes around 1,555 loans, which equates to over $217.5 million in unpaid principal balance (UPB). Meanwhile, the CIP, which is a smaller pool of loans, includes about 60 loans, which total to approximately $18.6 million in UPB.
BofA Securities, Inc. and First Financial Network, Inc. will serve as advisors to the sale. The bids are due on October 31, 2023 for the large pool and on November 16, 2023 for the CIP. Interested bidders are advised to register for future announcements, training, and other information.
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