India, April 22 -- Fannie Mae (FNMA) on Tuesday announced the sale of a new package of non-performing loans as part of its continuing initiative to shrink its retained mortgage portfolio.
This latest offering includes the company's twenty-sixth Community Impact Pool or CIP. The sale comprises two larger pools containing approximately 1,119 deeply delinquent loans with a combined unpaid principal balance or UPB of $198.6 million.
Additionally, the CIP features around 40 loans totaling $7.2 million in UPB, primarily located in Florida. All pools are open to bids from qualified purchasers. The transaction is being marketed in partnership with BofA Securities, Inc., and First Financial Network, Inc.
Bids for the larger pools must be submitte...