Fannie Mae announced on Sept. 29 that 24 Dallas-Fort Worth mortgages had been sold to a single buyer. Now it is lining up the next batch: about 27 deeply delinquent loans, with about $5.7 million in unpaid principal balance, all in the same metro area, with bids due Nov. 3. The company calls it its twenty-ninth Community Impact Pool, a small, geographically focused sale that carries extra conditions for whoever buys it.
The pool works out to about $211,000 in unpaid balance per loan, which is a family-sized mortgage rather than a commercial one. For a Dallas-Fort Worth homeowner who is months behind on a Fannie Mae-backed loan, the question is whether the loan could be in a pool like this and what the buyer would owe them. The conditions attached to the sale give a direct answer, and they are the same ones Fannie Mae attached to the pool whose winner it announced on Sept. 29.
The number to watch on this pool is the cover bid, the second-highest price, which Fannie Mae publishes as a share of unpaid balance when it announces a winner.
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A pool that stays in one metro area
Fannie Mae announced the sale on Oct. 8 alongside a much larger one: about 1,217 loans and $259.9 million in balance, with bids due Oct. 27. The Dallas-Fort Worth pool is the Community Impact Pool, and it is priced and bid separately on the later date of Nov. 3. “All pools are available for purchase by qualified bidders,” the company said, and BofA Securities is marketing the sale. Bidders can register on Fannie Mae’s whole-loan sales page for future announcements and training, and information on specific pools is posted there. The announcement does not describe any other test a bidder must pass beyond being qualified.
The Dallas-Fort Worth pool is limited to one area, and the announcement spells out the borrower and neighborhood conditions that come with it. Together the two pools total roughly 1,244 loans and $265.6 million in unpaid balance, which makes the Dallas-Fort Worth pool about 2 percent of the loans and about 2 percent of the dollars in the announcement.
What the previous Dallas-Fort Worth pool did
The best guide to how this one may go is the last one. Fannie Mae’s Sept. 29 results release for the twenty-eighth Community Impact Pool reported 24 Dallas-Fort Worth loans with $6,200,360 in unpaid balance, sold to VRMTG ACQ, LLC after the pool was first announced on Aug. 19. The expected closing is Nov. 19, 2026.
That release gave the second-highest bid, not the winner’s price: 94.0740 percent of unpaid balance, or 55.22 percent of the broker’s price opinion of the homes’ value. The average loan was $258,348 with a 4.26 percent weighted-average note rate, and the weighted average loan-to-value ratio was 59 percent on the broker valuations. A 59 percent loan-to-value means the homes were worth well more than the debt on average. For comparison, Freddie Mac’s weekly survey put the average 30-year fixed mortgage rate at 7.40 percent on Oct. 8, so a 4.26 percent note is a cheap loan to the borrower who holds it.
The new pool is smaller in dollars, at $5.7 million against $6.2 million, and has three more loans. The twenty-eighth pool took about six weeks to go from its Aug. 19 announcement to its Sept. 29 results.
What buyers of this pool have to do for homeowners
Buyers of the Dallas-Fort Worth loans take on three obligations, all stated in the Oct. 8 announcement. They must offer loss mitigation options designed to be sustainable for borrowers. They must honor approved or in-process loss mitigation at closing, including loan modifications. And before starting a foreclosure on a loan not secured by a vacant or condemned property, they must offer “a waterfall of loss mitigation options, including loan modifications, which may include principal forgiveness.”
If a foreclosure cannot be avoided, the property must be marketed first to owner-occupants and nonprofits, a step Fannie Mae compares to its FirstLook program. That ordering puts a would-be owner-occupant or a nonprofit ahead of investors for any house that does go to foreclosure.
What a Dallas-Fort Worth borrower can do while the pool is out
Bids are due Nov. 3, and closing comes weeks later, so there is a window in which the current servicer still handles the loan. A borrower who is behind can use it to ask the servicer for the loss mitigation options the loan qualifies for, and to get any approved plan in writing. Fannie Mae’s rule protects efforts that are “approved or in-process” at closing, so the date of the paperwork can matter.
Fannie Mae’s announcement is the place to read the conditions in the company’s own words. Its media contact for questions about the sale is Kelly Antonacci, at 202-752-0524. The announcement does not list which loans are in the pool, so a borrower cannot tell from it whether a particular loan is included.
The next Fannie Mae figure to watch is the Nov. 19 closing on the twenty-eighth pool, followed by the winner and cover bid on this one.
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This article was produced with AI assistance and reviewed by The Financial Wire’s editorial team.
David M. Keller is a finance writer based in Columbus, Ohio, covering personal finance and consumer-focused economic topics. He earned his degree in journalism from Ohio University and began his career reporting on local business and economic trends for a regional media outlet. Since then, he has contributed to a variety of online publications, focusing on clear, practical coverage of topics such as cost of living, debt, and everyday financial decision-making.
