Tag Archives: Community Impact Pool

Fannie Mae has announced the deal in efforts to downsize its mortgage portfolios, including the company's twentieth Community Impact Pool.

A major company in the mortgage industry shed hundreds of nonperforming loans recently. Read on to find out which company, and how much their haul was for.

According to the GSE, the Federal Housing Finance Agency announced additional enhancements to its requirements for sales of non-performing loans by Fannie Mae and Freddie Mac on April 14, 2016, that build on requirements originally announced in March 2015. These enhancements apply to the non-performing sale that was announced today.

Fannie Mae recently announced the seventh sale of non-performing loans as well as the fifth Community Impact Pool, offered by the company.

Corona Asset Management XVIII, LLC, is the winning bidder for Fannie Mae’s fourth Community Impact Pool of non-performing loans.

Housing advocates have been calling for government agencies to sell more non-performing mortgage loans to non-profits. With the announcement of Fannie Mae's latest non-performing loan (NPL) auction, they are partially getting their wish.

The smaller Community Impact Pool consists of 75 high-occupancy and geographically focused loans with about $11 million in unpaid principal balance (UPB). The transaction is expected to close on October 26, 2015, according to Fannie Mae.