Fannie Mae Awards Twenty-Seventh Community Impact Pool to Residential Credit Opportunities Trust X-C
Fannie Mae's latest Community Impact Pool transaction highlights the company's ongoing efforts to address non-performing loans in Florida, emphasizing loss mitigation and borrower assistance.
Fannie Mae has announced Residential Credit Opportunities Trust X-C as the winning bidder for its twenty-seventh Community Impact Pool (CIP) of non-performing loans, with the transaction set to close on September 19, 2025. This pool, geographically concentrated in Florida, consists of 26 loans with an aggregate unpaid principal balance of $6,381,078, showcasing an average loan size of $245,426 and a weighted average note rate of 4.13%.
The winning bid for the CIP was notably higher than the cover bid, which stood at 104.78% of the unpaid principal balance, reflecting the competitive nature of the auction. BofA Securities, Inc. and First Financial Network, Inc. served as advisors for this transaction, underscoring the collaborative effort to manage and redistribute non-performing loans effectively.
A critical aspect of this transaction is the requirement for purchasers to honor any approved or in-process loss mitigation efforts at the time of sale, including loan modifications. Furthermore, purchasers are mandated to offer delinquent borrowers a range of loss mitigation options, such as loan modifications that may include principal forgiveness, before initiating foreclosure proceedings. This approach underscores Fannie Mae's commitment to supporting borrowers and stabilizing communities affected by non-performing loans.
For those interested in future transactions, Fannie Mae provides a platform for registration to receive ongoing announcements, training, and detailed information about available pools. This initiative is part of Fannie Mae's broader strategy to address the challenges posed by non-performing loans while fostering opportunities for community impact and financial stability.