New Jersey Community Capital was the winning bidder of Fannie Mae's sixth Community Impact Pool auction of nonperforming loans.
This makes
There was an average loan size of $164,360, a weighted average note rate of 5.29%, a weighted average delinquency of 46 months and a weighted average broker's price opinion loan-to-value ratio of 93.46%. The bid was 50.2% of the unpaid principal balance.
The transaction is expected to close on May 23. Fannie Mae marketed this offering with Bank of America Merrill Lynch and The Williams Capital Group.