The sale of more than $34 million in government-sponsored enterprise-backed residential loans that are not performing has closed. The loans are secured by Florida properties.
Winning bidders have been announced for a portfolio of 182 Fannie Mae mortgages with a collective outstanding unpaid principal balance of $34.25 million.
The non-performing loans are broken up into two pools; one of the pools has an Orlando, Florida, concentration, while the second pool is concentrated in Tampa, Florida.
Source: Mortgage Daily