The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Community Impact Pool Deeply Delinquent Loans Fannie Mae Non-Performing Loans NPL Sales 2015-09-02 Brian Honea Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Fannie Mae’s First Community Impact NPL Pool Goes to New Jersey Non-Profit Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. Tagged with: Community Impact Pool Deeply Delinquent Loans Fannie Mae Non-Performing Loans NPL Sales Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, News, Secondary Market About Author: Brian Honea Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: AACER: Third-Lowest Monthly Bankruptcy Filings Total of 2015 Reported in August Next: Most Fed Districts Report Positive Residential Real Estate and Economic Activity Fannie Mae announced Wednesday that non-profit New Jersey Community Capital (NJCC) is the winning bidder for the GSE’s first-ever Community Impact Pool of deeply delinquent non-performing loans (NPLs).The Community Impact Pool of NPLs was specifically structured to attract bidding by non-profits, small investors, and minority- and women-owned businesses (MWOBs). Fannie Mae marketed the Community Impact Pool at the same time as two larger pools consisting of approximately 3,900 NPLs, which sold in mid-August for a combined $765 million. The winning bidder in that transaction was Lone Star (LSF9 Mortgage Holdings, LLC).The smaller Community Impact Pool consists of 75 high-occupancy and geographically focused loans in the Tampa, Florida, area with about $11 million in unpaid principal balance (UPB). The transaction is expected to close on October 26, 2015, according to Fannie Mae. The winning bidder, NJCC, is a nonprofit community development financial institution (CDFI) that transforms at-risk communities through strategic investments of capital and knowledge.”We’re proud to partner with New Jersey Community Capital to help neighborhoods stabilize and recover,” said Joy Cianci, Fannie Mae’s SVP for Credit Portfolio Management. “This sale will reduce our holdings of non-performing loans while giving homeowners additional options to avoid foreclosure. We will continue to structure loan sales to foster participation of non-profits and small investors and we look forward to working closely with these groups.”Fannie Mae began marketing its second NPL sale, which included the Community Impact Pool, to potential bidders on July 16 in collaboration with Credit Suisse Securities, Wells Fargo Securities, and the Williams Capital Group. The cover bid price for the Community Impact Pool is 81.43 percent of UPB (67.13 percent of the broker’s price opinion, or BPO). For the 75 loans, the average loan size was $143,572 and the average note rate was 5.43 percent. The loans were an average of approximately 39 months delinquent, and the average BPO loan-to-value was 82 percent.”This sale will reduce our holdings of non-performing loans while giving homeowners additional options to avoid foreclosure.””We are thrilled for the opportunity to continue to expand NJCC’s innovative foreclosure mitigation and prevention programs in Florida to help keep families in their homes and enable distressed communities to flourish,” said Wayne T. Meyer of NJCC. “Through our loss mitigation programs, which utilize principal reduction as a key part of right sizing borrowers’ first mortgage debt, we have already helped over 200 homeowners in Florida and look forward to continuing this progress.”In May, Fannie Mae closed its first-ever bulk NPL sale. That transaction included approximately 3,000 deeply delinquent residential single-family mortgage loans totaling about $762 million in UPB.Click here for more information on NPL sale guidelines and registration for ongoing announcements, training, and other information. Subscribe September 2, 2015 1,353 Views Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / Fannie Mae’s First Community Impact NPL Pool Goes to New Jersey Non-Profit Sign up for DS News Daily Print This Post
American Legion Post 524 Adjutant Jack Hagen (left) and Post 524 Commander Bob Marzulli speak at a town meeting about helping veterans in need of assistance. By Maddy VitaleDuring a town meeting Saturday organized by Ocean City Fourth Ward Councilman Bob Barr, veterans organizations spoke about an array of services they have for their members and how civilians can help support them.New Jersey Department of Military and Veterans Affairs representative Jim Scanlon spoke about the problem of homeless vets.“We have a liberal definition of homelessness,” Scanlon told about 30 audience members in a lecture hall at the Ocean City Free Public Library. “We had 139 veterans pass through the system last year who were homeless.”The Department of Military and Veterans Affairs estimates that there are 600 veterans who are homeless in New Jersey. “We don’t know,” Scanlon said. He noted there is an event called “Stand Down” to help the homeless that will be held in Atlantic City on May 22 at the All Wars Memorial, 1510 Adriatic Ave. The event is designed to give New Jersey veterans a helping hand or hand up, focusing on homeless veterans and those needing help with benefits, medical needs, clothing and more.It is just one way, Scanlon said, the veterans organizations are available to help the men and women who served but have run into difficulty. New Jersey Department of Military and Veterans Affairs representative Jim Scanlon talks about homeless veterans.Councilman Keith Hartzell was in the audience. He asked what he and others could do to help.“Is there anything individuals can do – regular civilians?” Hartzell said. “We’ve been asking at City Council what we can do. This is something I think is very forgotten. You guys do a great job reminding people, but I think there is not enough emphasis on the homeless. Hopefully we can start a movement.”Scanlon said just keeping the information in the forefront that it is a problem, as well as volunteering and supporting veterans through their posts and causes, are all ways to help.According to Scanlon, there are 38,000 American Legion members in the state and 2.2 million in the country. However, he said, the numbers are declining countrywide. Again, he urged the public to support the veterans and all the good that they do for the community.While numbers have decreased in some states or communities, American Legion Post 524 of Ocean City is going strong, Post Commander Bob Marzulli said. There are 700 Post 524 members, many of whom are active, Marzulli noted. Marzulli said his post gives back to its veterans and the community with events throughout the year.“Any veteran who needs anything is always welcomed in our post. As long as they are in need, they can come to the post,” Marzulli said, emphasizing that a veteran does not have to be a member to get assistance.He said, thanks to the support of the city and City Council, Post 524 gets to do a lot of things throughout the year.Audience members listen to Councilman Bob Barr talk about the morning program.In addition to Scanlon and Marzulli, Post 524 Adjutant Jack Hagen said a few words.He said one of the big successes this year, aside from opening their new American Legion building at 4562 West Ave., was making a veterans program called Telehealth available at the post. This way, for routine doctor’s visits, a veteran doesn’t have to drive to Wilmington, Del., or Philadelphia for care. “We have a link to their doctor. We are the only American Legion post in the state to have done this,” Hagen said. “There are a lot of other things we get involved in.”Hagen said the post partners with other organizations for the Walk for the Wounded, the Run for the Fallen and many other ways to honor veterans.“The Run for the Fallen, it is a wonderful experience,” Hagen said. “Ocean City has the strongest turnout for the event. Neighbors show up at 12 markers and we get hundreds of people who come out. It is a wonderful event to meet and greet Gold Star family members, whose loved ones made the ultimate sacrifice.”Marzulli closed by telling the audience that if anyone knows of a veteran in need, they should contact Post 524.The American Legion Post 524“Don’t hesitate to let us know,” Marzulli said. “We look forward to doing whatever we can to help.”He also praised Barr, whom he said was instrumental in making the new building for the veterans at Post 524 possible. The result of a larger building was many more activities to help veterans and service the community.Veterans advocate Joe Griffies, who hosts a radio show called the “Welcome Home Show” on WIBG, also spoke. Griffies said something must be done to change the requirements when it comes to where a veteran may get his or her healthcare. He has lived in Cape May County for 52 years, yet he still has to travel to the veterans hospital in Philadelphia. At one point, he said, he had to drive with a bad hip to his appointment.He also said that homelessness should not be an issue for veterans and that something must be done to help the people who served in the military.Veterans advocate Joe Griffies says he would like to see veterans able to go to their closest veterans hospitals.
Kick-off tomorrow is in Cooke Park at 6.30pm. With both sides level on 35 points a piece the League’s final fixture of 2015 will decide the destination of the title. The Tipp Town club will be looking to retain the trophy when they come up against a Celtic side determined to win their second in three years. St Michaels manager Jason Purcell says without the quality players in his squad they’ll find it tough against Kenny O’Shea’s Celtic outfit.