Fannie Mae Announces Sale of Non-Performing Loans
Fannie Mae (OTCQB: FNMA) has announced its latest sale of non-performing loans, including its 25th Community Impact Pool (CIP). The sale comprises a large pool of approximately 1,766 deeply delinquent loans totaling $296.7 million in unpaid principal balance (UPB), and a CIP of about 29 loans totaling $7.2 million in UPB, focused on the New York area. This initiative is part of Fannie Mae's ongoing effort to reduce its retained mortgage portfolio size.
The sale, marketed in collaboration with BofA Securities, Inc. and First Financial Network, Inc., requires buyers to offer sustainable loss mitigation options to borrowers. Bids are due on October 3, 2024, for the large pool and October 17, 2024, for the CIP. The terms include honoring existing loss mitigation efforts and offering a waterfall of options before initiating foreclosure.
Fannie Mae (OTCQB: FNMA) ha annunciato la sua ultima vendita di prestiti in sofferenza, inclusa la sua 25esima Community Impact Pool (CIP). La vendita comprende un grande gruppo di circa 1.766 prestiti gravemente in sofferenza, per un totale di 296,7 milioni di dollari in saldo principale non pagato (UPB), e una CIP di circa 29 prestiti per un totale di 7,2 milioni di dollari in UPB, concentrata nell'area di New York. Questa iniziativa fa parte dello sforzo continuo di Fannie Mae per ridurre le dimensioni del suo portafoglio ipotecario mantenuto.
La vendita, commercializzata in collaborazione con BofA Securities, Inc. e First Financial Network, Inc., richiede che gli acquirenti offrano opzioni sostenibili di mitigazione delle perdite ai mutuatari. Le offerte devono essere presentate entro il 3 ottobre 2024 per il grande pool e il 17 ottobre 2024 per la CIP. I termini includono il rispetto degli attuali sforzi di mitigazione delle perdite e l'offerta di una cascata di opzioni prima di avviare un'azione di pignoramento.
Fannie Mae (OTCQB: FNMA) ha anunciado su última venta de préstamos no productivos, incluida su 25ª Community Impact Pool (CIP). La venta comprende un gran grupo de aproximadamente 1.766 préstamos con morosidad profunda que totalizan 296.7 millones de dólares en saldo principal no pagado (UPB), y una CIP de alrededor de 29 préstamos que suman 7.2 millones de dólares en UPB, enfocada en el área de Nueva York. Esta iniciativa es parte del esfuerzo continuo de Fannie Mae para reducir el tamaño de su cartera hipotecaria retenida.
La venta, comercializada en colaboración con BofA Securities, Inc. y First Financial Network, Inc., requiere que los compradores ofrezcan opciones sostenibles de mitigación de pérdidas a los prestatarios. Las ofertas deben presentarse antes del 3 de octubre de 2024 para el gran grupo y del 17 de octubre de 2024 para la CIP. Los términos incluyen honrar los esfuerzos de mitigación de pérdidas existentes y ofrecer una serie de opciones antes de iniciar un procedimiento de ejecución hipotecaria.
Fannie Mae (OTCQB: FNMA)는 최근 부실 대출의 판매를 발표하며, 그 중 25번째 Community Impact Pool (CIP)을 포함하고 있습니다. 이 판매는 총 1,766개의 심각하게 연체된 대출이 포함된 대규모 풀로, 미지급 원금 잔액(UPB)이 2억 9,670만 달러에 달하며, 뉴욕 지역에 중점을 둔 약 29개의 대출로 구성된 CIP는 총 720만 달러의 UPB를 기록하고 있습니다. 이번 이니셔티브는 Fannie Mae가 보유한 주택 담보 대출 포트폴리오의 크기를 줄이기 위한 지속적인 노력의 일환입니다.
BofA Securities, Inc.와 First Financial Network, Inc.와 협력하여 마케팅된 이번 판매는 구매자가 차용인에게 지속 가능한 손실 완화 옵션을 제공해야 합니다. 대규모 풀의 입찰 마감일은 2024년 10월 3일이며, CIP는 2024년 10월 17일입니다. 조건에는 기존 손실 완화 노력을 존중하고, 압류에 착수하기 전에 여러 가지 옵션을 제공하는 것이 포함됩니다.
Fannie Mae (OTCQB: FNMA) a annoncé sa dernière vente de prêts non performants, y compris sa 25e Community Impact Pool (CIP). La vente comprend un grand groupe d'environ 1 766 prêts gravement en souffrance, totalisant 296,7 millions de dollars en solde principal impayé (UPB), et une CIP d'environ 29 prêts totalisant 7,2 millions de dollars en UPB, centrée sur la région de New York. Cette initiative fait partie des efforts continus de Fannie Mae pour réduire la taille de son portefeuille hypothécaire conservé.
La vente, commercialisée en collaboration avec BofA Securities, Inc. et First Financial Network, Inc., exige que les acheteurs proposent des options de mitigation des pertes durables aux emprunteurs. Les offres doivent être soumises d'ici le 3 octobre 2024 pour le grand pool et le 17 octobre 2024 pour la CIP. Les conditions incluent le respect des efforts de mitigation des pertes existants et l'offre d'une cascade d'options avant d'entamer une procédure de saisie.
Fannie Mae (OTCQB: FNMA) hat ihren neuesten Verkauf von schlecht laufenden Krediten angekündigt, einschließlich des 25. Community Impact Pool (CIP). Der Verkauf umfasst einen großen Pool von etwa 1.766 tiefst verschuldeten Krediten mit einem insgesamt offenen Hauptsaldo (UPB) von 296,7 Millionen Dollar und einer CIP von etwa 29 Krediten, die insgesamt 7,2 Millionen Dollar in UPB ausmachen und sich auf das Gebiet von New York konzentrieren. Diese Initiative ist Teil von Fannie Maes fortlaufendem Bemühen, die Größe ihres gehaltenen Hypothekenportfolios zu reduzieren.
Der Verkauf, der in Zusammenarbeit mit BofA Securities, Inc. und First Financial Network, Inc. vermarktet wird, verlangt von den Käufern, nachhaltige Verlustminderungsoptionen für die Kreditnehmer anzubieten. Die Angebote müssen bis zum 3. Oktober 2024 für den großen Pool und bis zum 17. Oktober 2024 für die CIP eingereicht werden. Zu den Bedingungen gehört, bestehende Verlustminderungsmaßnahmen zu berücksichtigen und vor der Einleitung von Zwangsvollstreckungen eine Reihe von Optionen anzubieten.
- Reduction of retained mortgage portfolio size
- Promotion of participation by non-profit organizations and minority- and women-owned businesses
- Requirements for buyers to offer sustainable loss mitigation options to borrowers
- Large volume of non-performing loans ($296.7 million in the main pool)
2024-NPL3 Includes the Company's Twenty-Fifth Community Impact Pool Offering
The one large pool includes approximately 1,766 deeply delinquent loans totaling
Bids are due on the one large pool by October 3, 2024, and on the CIP by October 17, 2024.
Terms of Fannie Mae's non-performing loan transactions require the buyer of the non-performing loans to offer loss mitigation options designed to be sustainable for borrowers. All buyers of non-performing loans are required to honor any approved or in-process loss mitigation efforts at the time of closing, including forbearance arrangements and loan modifications. In addition, non-performing loan buyers must offer delinquent borrowers a waterfall of loss mitigation options, including loan modifications, which may include principal forgiveness, prior to initiating foreclosure on any loan, not secured by property which is vacant or condemned at the time of closing. In the event a foreclosure cannot be prevented, the owner of the loan must market the property to owner-occupants and non-profits before offering it to investors, similar to Fannie Mae's FirstLook® program.
Interested bidders are invited to register for future announcements, training and other information here. Fannie Mae will also post information about specific pools available for purchase on that page.
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FAQ
What is the total value of non-performing loans Fannie Mae (FNMA) is selling in this announcement?
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How many loans are included in Fannie Mae's (FNMA) Community Impact Pool announced on September 10, 2024?
