Thank you for your interest in Fannie Mae’s first non-performing loan sale of 2023, FNMA 2023-NPL1. The Offering Memorandum (“OM”) available at the link below will provide you with additional information regarding the loan sale. 

If you are concurrently qualifying for FNMA 2023-RPL1, only one set of bidder qualification documents are required to be submitted, however transaction specific Confidentiality Agreements (each found in the applicable OM) will be required to be submitted. Please ensure that your submission for both sales includes (i) proof of funds supporting a minimum of 10% of the principal balance of the pool(s) to be bid on for both sales and (ii) a sperate Confidentiality Agreement for each sale, so access is granted to both data rooms. 

*** If you are interested in qualifying as a bidder or financier for FNMA 2023-NPL1, please submit Pre-Access Qualifications and any related questions to: FNMANPLPAQ@SMARTROOM.COM ***

PLEASE NOTE THE FOLLOWING:

• Fannie Mae is requesting bids on any pool separately. Bids on an ALL OR NONE or COMBINATION basis will NOT be accepted.

• Certain Mortgage Loans in the National Pool are subject to mortgage insurance coverage which will be removed prior to the closing of the sale of such Mortgage Loans and the Purchaser will have no rights under any mortgage insurance policy. Certain other Mortgage Loans in the National Pool are subject to mortgage insurance coverage which will not be removed prior to the closing of the sale of such Mortgage Loans as indicated in the data tape.

• Borrowers of the Mortgage Loans may have requested certain relief under the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) or which is otherwise offered by Fannie Mae or may in the future request relief under the CARES Act or which is otherwise offered by Fannie Mae. As detailed in the attached OM, the Bidder, its Initial Servicer and any Subsequent Servicers must service each loan in a manner that is consistent with any requirements that would apply under the CARES Act and must adhere to any foreclosure or eviction moratorium related to the COVID-19 pandemic that has been imposed by the FHFA or by federal legislation applicable to single-family loans that are owned or securitized by Fannie Mae.

• Fannie Mae will not accept removal of or pricing concession requests or requests to perform additional research or additional due diligence reviews related to any Mortgage Loan for which a borrower has requested or may request relief under the CARES Act or which is or may be offered by Fannie Mae.

• Bid stipulations and the Bid Form will be due on September 7, 2023 at 12:00 PM (Eastern Time) for the National Pool and September 20, 2023 at 12:00 PM (Eastern Time) for the Community Impact Pool (“CIP”) with the required loan-level pricing to be provided by no later than 3:00 PM (Eastern Time). As detailed in the OM, Fannie Mae will not accept any bid package on the Bid Due Date which does not include loan-level pricing for each mortgage loan in any pool or pools for which a bidder is submitting a bid.

This advertisement is an announcement only and does not constitute an offer to sell, or a solicitation of an offer to buy, any loans or any interest therein. Information concerning the loans will be furnished only to persons who demonstrate that they have a level of financial sophistication and resources sufficient to evaluate and bear the risks of an investment in the loans. The loans, assets or portfolios may be offered "AS IS" and without any representations or warranties of any kind whatsoever by any entity.