May 25, 2018
Fannie Mae announced its latest sale of non-performing loans, including the company's thirteenth Community Impact Pool know as (CIP). The CIP pool will consist of roughly 700 loans totaling $134 mm in UPB. States include New Jersey, New York, Baltimore, Maryland, Cook County, Illinois, Miami and other Florida areas.
CIP pools are designed in to increase the inclusion of non-profits and minority & women owed business and have subtle requirements to increase the chance of home owner retention and neighborhood stabilization.
Joining the podcast to discuss the NPLs and distressed real estate is Marcos Morales, Executive Director of Hogar Hispano, Inc. Marcos is very active in the non-profit NPL and real estate space and manages a portfoliol of over $30mm from recent acquisitions.