May 19, 2018
Fannie Mae announced its latest sale of non-performing loans, including the company's thirteenth Community Impact Pool. The four larger pools include 10,300 loans totaling $1.7 billion in unpaid principal balance and the Community Impact Pool of 700 loans totaling $134 million in UPB.
Among other elements, terms of Fannie Mae's non-performing loan transactions require the buyer of the loans to pursue loss mitigation options that are sustainable for borrowers. In the event a foreclosure cannot be prevented, the owner of the loan must market the property to owner-occupants and non-profits exclusively before offering it to investors, similar to Fannie Mae's FirstLook® program.
Joining the podcast today to discuss NPL & real estate opportunities is Alex Goldovsky, Founder and CEO of ProTitle USA. ProTitle is a Nationwide Residential and Commercial Title Search, Analysis and Due Diligence firm.