Fannie Mae announces the winner of

WASHINGTON, June 28, 2022 /PRNewswire/ — Fannie Mae (OTCQB: FNMA) today announced the winning bidder for its nineteenth Community Impact Pool (CIP) of non-performing loans. The transaction is expected to close on August 19, 2022 and includes approximately 120 loans totaling $36.2 million in Outstanding Principal Balance (UPB). Loans are geographically concentrated in New York and the successful bidder was the New York State Mortgage Agency Community Restoration Fund (SONYMA CRF). The pool was marketed with BofA Securities, Inc. and First Financial Network, Inc. as advisers.

The CIP granted in this most recent transaction includes 120 loans with an overall UPB of $36,169,476; average loan size of $301,412; weighted average rate of the notes of 5.24%; and a weighted average broker opinion (BPO) loan-to-value ratio of 43.55%.

The cover bid, which was the second highest bid, for CIP was 80.59% UPB (27.56% BPO).

All buyers are required to honor all loss mitigation efforts approved or in progress at the time of the sale, including forbearance agreements and loan modifications. In addition, buyers should offer defaulting borrowers a cascade of loss mitigation options, including loan modifications, which may include forgiveness of principal, before initiating foreclosure on any loan.

Interested bidders can sign up to receive ongoing announcements, training and other information here. Fannie Mae will also post information about specific pools available for purchase on this page.

About Fannie Mae

Fannie Mae advances equitable and sustainable access to quality, affordable homeownership and rental housing for millions of people across America. We enable the 30-year fixed rate mortgage and encourage responsible innovation to make buying and renting a home easier, fairer and more accessible. To learn more, visit:
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SOURCEFanni Mae

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