Page 48 - May-June 2018 GSE Report Flip Book

FANNIE MAE MAJAYN-UAJRUYNE20210818
Fannie Mae markets re-performing and non-performing loans
On June 13, Fannie Mae began marketing its seventh sale of re-performing loans as part of the company’s ongoing effort to reduce the size of its retained mortgage portfolio. The sale consists of approximately 27,000 loans, having an unpaid principal balance of approximately $6.17 billion, and is available for purchase by qualified bidders. This sale of re-performing loans is being marketed in collaboration with Citigroup Global Markets, Inc. Bids are due on July 10, 2018. (Press Release, Fannie Mae, 06/13/18)
On June 12th, Fannie Mae announced the winning bidders for its thirteenth non-performing loan sale. The sale includes approximately 9,800 loans totaling $1.64 billion in unpaid principal balance, divided among four pools. The winning bidder for the transaction is MTGLQ Investors, L.P. (Goldman Sachs). The transaction is expected to close on July 20, 2018. (Press Release, Fannie Mae, 06/12/18)
On June 26, Fannie Mae announced VRMTG ACQ, LLC (VWH Capital Management, LP), a minority woman owned business, is the winning bidder for its thirteenth Community Impact Pool of non-performing loans, comprise of approximately 667 loans totaling $129.23 million in unpaid principal balance, secured by properties in New Jersey, New York, Baltimore, Maryland, Cook County, Illinois, and Miami, Florida areas. The transaction is expected to close on August 20, 2018. (Press Release, Fannie Mae, 06/26/18)
Fannie Mae announces $26 million low-income housing tax credit investment
On June 28, Fannie Mae announced it will provide a $26 million low-income housing tax credit (LIHTC) equity investment to facilitate the construction of Far Rockaway Village, a 457 unit residential development in the downtown Far Rockaway area of Queens, NY. Fannie Mae is backing the project through The Richman Group Affordable Housing Corporation, a Fannie Mae LIHTC fund partner. Fannie’s financing backs the first phase of Far Rockaway Village, which will be the largest residential development in downtown Far Rockaway. (Press Release, Fannie Mae, 06/28/18)
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