The Community Development Trust, a New York-based real estate investment trust, has reported the completion of its first mortgage loan securitization with Fannie Mae.CDT, which provides capital for affordable housing, said it swapped 32 loans with a balance of $44.5 million for an equal amount of Fannie Mae mortgage-backed securities, which were then sold to JP Morgan Chase. The loans had an average balance of $1.4 million and are secured by properties in eight states, most of them with Low Income Housing Tax Credits, CDT said.
Processing Content
