Fannie Mae announced the winning bidder for its twenty-fifth Community Impact Pool (CIP) of non-performing loans. RCG Strategic Acquisitions, LLC was selected as the successful bidder for this transaction.
The pool comprised 29 deeply delinquent loans with a total unpaid principal balance (UPB) of $7.2 million. These loans were geographically concentrated in the New York area, targeting specific community needs.
This sale is part of Fannie Mae's ongoing efforts to reduce its retained mortgage portfolio and manage credit risk effectively. The transaction is expected to close on December 20, 2024, contributing to the company's asset management strategy.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.