DSNews delivers stories, ideas, links, companies, people, events, and videos impacting the mortgage default servicing industry.
Issue link: http://digital.dsnews.com/i/817713
20 FANNIE MAE ANNOUNCES WINNER OF COMMUNITY IMPACT POOL OF NON- PERFORMING LOANS Fannie Mae announced that New Jersey Community Capital is the winning bidder of the sixth Community Impact Pool of non-perform- ing loans. New Jersey Community Capital is a non-profit community development financial in- stitution located in New Brunswick, New Jersey. e transaction includes 158 loans secured by properties located in the New York and New Jersey area with an unpaid principal balance (UPB) of approximately $26 million and is expected to close on May 23, 2017. e cover bid price for this Community Impact Pool is 50.2 percent of UPB, which is 46.9 percent of broker price opinion. According to Fannie Mae, the loan pool awarded in this most recent transaction includes the following: 158 loans with an aggregate unpaid principal balance of $25,968,898; with an average loan size of $164,360; with a weighted average note rate of 5.29 percent; with a weighted average delinquency of 46 months; and with a weighted average broker's price opinion loan- to-value ratio of 93.46 percent. e sale was divided into four pools as follows: » Group 1 Pool: 1,465 loans with an aggregate unpaid principal balance of $246,748,844; average loan size $168,429; weighted average note rate 4.51 percent; weighted average delinquency 29 months; weighted average broker's price opinion loan-to-value ratio of 78.75 percent. » Group 2 Pool: 3,062 loans with an aggregate unpaid principal balance of $496,205,215; average loan size $162,053; weighted average note rate 5.05 percent; weighted average delinquency 38 months; weighted average broker's price opinion loan-to-value ratio of 64.81 percent. » Group 3 Pool: 2,457 loans with an aggregate unpaid principal balance of $429,254,601; average loan size $174,707; weighted average note rate 4.90 percent; weighted average delinquency 39 months; weighted average broker's price opinion loan-to-value ratio of 79.61 percent. » Group 4 Pool: 2,427 loans with an aggregate unpaid principal balance of $512,628,430; average loan size $211,219; weighted average note rate 4.68 percent; weighted average delinquency 42 months; weighted average broker's price opinion loan-to-value ratio of 129.55 percent. e Community Impact Pool bidding began on February 14, in partnership with Bank of America Merrill Lynch and e Williams Capital Group, L.P. e awarding of the Community Impact Pool follows the GSE's announcement of the winning bidders of its ninth non-performing loan sale on March 14. e sale included approximately 9.400 loans totaling $1.68 billion in UPB. The best defense for a better neighborhood Real People, Real Results www.assero24.com/defense