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

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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. 

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