SOURCE: Mortgage News Feed
Government agencies have have taken a lot of heat from advocacy groups, civil rights groups, and lawmakers in the last few months over selling non-performing residential mortgage loans (NPLs) to private investors and Wall Street rather than non-profits or other community development organizations. On Thursday, however, Fannie Mae announced it has sold its third Community Impact Pool of NPLs to New Jersey Community Capital (NJCC), a non-profit Community Development Financial Institution (CDFI) that the was winner of Fannie Mae’s first two Community Impact Pool auctions. Fannie Mae’s sales of Community Impact Pools of NPLs are structured to attract participation from non-profits, smaller investors, and women- and minority-owned businesses. Read Full Article Here >>
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Each week we post articles on FHA/VA Government news topics, ranging from FHA Direct Endorsement Underwriters, to current FHA underwriting guidelines, to new FHA rules/regulations, FHA compliance, FHA lending requirements and much more! PLEASE NOTE: We are NOT owned, operated or affiliated with HUD, FHA or the Federal Government in any way.