Bidders have until November 3 to make offers on about 27 delinquent mortgages in the Dallas-Fort Worth area that Fannie Mae put up for sale. The small package, which the company calls the twenty-ninth Community Impact Pool, holds about $5.7 million in unpaid principal. Fannie Mae announced the pool on October 8, alongside a much larger one whose bids are due a week earlier, on October 27.
What the pool holds
The figures come from Fannie Mae’s announcement, which counts loans rather than properties and rounds with the word “about.” Spread across 27 loans, $5.7 million works out to roughly $211,000 of unpaid principal per loan on average, though the announcement gives no breakdown and no list of addresses.
The main pool is far bigger: about 1,217 loans and $259.9 million. Fannie Mae says all pools are open to qualified bidders, with BofA Securities marketing the sale alongside it. A Community Impact Pool is the program’s smaller package, and the company’s whole-loan sales page says smaller pools may suit non-profits and smaller investors better than the large funds that buy by the thousand…