Let Valuation Tech Help Improve Your Collateral Valuation

Join this webinar to learn how technological advancements in valuation provide solutions to help lenders and servicers deliver more comprehensive offerings to their clients.

Talking proptech with FinLedger Director Holden Page

In this episode, Page discusses the hottest topics coming across FinLedger’s news desk. Topics include: the online banking market, what’s happening in the proptech space and recent private market deals.

engage.marketing 2021

We brought together the smartest minds in purchase marketing to share the insights, tactics and strategies that set the leaders apart. Watch the sessions on-demand now!

How Rocket Pro TPO continues to give its broker partners the upper hand

To remain competitive and create a better experience in this purchase environment, brokers need one thing above all: Speed. And there’s one lending partner that has the solutions and resources to give LOs just that.

InvestmentsMortgage

Fannie Mae selling off $1.76 billion in non-performing loans

Announces sale of 10,000 delinquent mortgages

Fannie Mae announced Tuesday that it plans to sell off $1.76 billion in non-performing loans, the latest in the government-sponsored enterprise’s efforts to rid itself of deeply delinquent mortgages.

According to details provided by Fannie Mae, this latest sale will include 10,000 delinquent loans split among four pools, totaling $1.76 billion in unpaid principal balance.

The sale also includes Fannie Mae’s latest Community Impact Pool, the GSE’s sixth such sale.

Per Fannie Mae, the Community Impact Pool is a smaller pool of loans that is geographically focused, high occupancy, and marketed to encourage participation by non-profit organizations, minority- and women-owned businesses and smaller investors.

According to Fannie Mae, the sale is being marketed in collaboration with Bank of America Merrill Lynch and The Williams Capital Group, as advisors.

“We are offering these non-performing loans and this community impact pool to diverse investors in an attempt to expand the opportunities available to borrowers who are significantly delinquent on their mortgages to avoid foreclosure,” said Joy Cianci, Fannie Mae’s senior vice president for single-family, special and distressed assets.

According to Fannie Mae, bid for the four larger pools are due on March 7, while bids for the Community Impact Pool are due on March 21. 

Most Popular Articles

Will we ever see a “normal” housing market again?

The question on everyone’s minds: When will this hot housing market cool down? Arch MI investigates this and more in its Spring Housing and Mortgage Market Review.

Jun 22, 2021 By

Latest Articles

Buyside launches a new home valuation pages feature

After years of aggregating behavioral data from homebuyers and homesellers at the largest real estate brokerages in the country, Buyside is proud to announce the launch of their expansion into core & ancillary services by focusing on the homeowner.

Jun 24, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please