A small portfolio of non-performing single-family loans that are owned by the Federal National Mortgage Association has been auctioned off.

The loan sale, which was initially marketed beginning on May 10, includes 123 mortgages that have a collective unpaid principal balance of $32 million.

The Fannie Mae loans are divided into two community impact pools that consist of residential loans with a concentration in New York and New Jersey.

Source: Mortgage Daily