Freddie Mac-No Politics (FMCC)

[navycmdr]

Fannie Mae today announced the winning bidder for its twenty-fourth
Community Impact Pool (CIP) of non-performing loans

WASHINGTON , May 23, 2024 /PRNewswire/ -- Fannie Mae (OTCQB: FNMA ) today announced the winning bidder
for its twenty-fourth Community Impact Pool (CIP) of non-performing loans. The transaction is expected to close on
July 24, 2024 , and includes 51 deeply delinquent loans totaling $14.3 million in unpaid principal balance (UPB).

The loans are geographically focused in the New York area, and the winning bidder was GITSIT Solutions, LLC (Tourmalet).
The pool was marketed with BofA Securities, Inc. and First Financial Network, Inc. as advisors.

The CIP awarded in this most recent transaction includes 51 loans with an aggregate UPB of $14,270,414 ; average
loan size of $279,812 ; and weighted average note rate of 4.35%.

The cover bid, which was the second highest bid, for the CIP was 86.20% of UPB (30.69% of BPO).
All purchasers are required to honor any approved or in-process loss mitigation efforts at the time of sale, including
forbearance arrangements and loan modifications. In addition, purchasers must offer delinquent borrowers a waterfall
of loss mitigation options, including loan modifications, which may include principal forgiveness, prior to initiating
foreclosure on any loan.
Interested bidders can register for ongoing announcements, training, and other information here. Fannie Mae
will also post information about specific pools available for purchase on that page.