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Fannie Mae selling nonperforming loans

Fannie Mae is selling six pools of nonperforming loans totaling about $1.42 billion in unpaid principal balance.

Four of the pools include about 7,900 loans totaling $1.29 billion in unpaid principal balance. Bids on these pools are due Nov. 2.

The other two of the groups of loans are Community Impact Pools, which are usually smaller, geographically focused pools meant to encourage participation by nonprofits and minority and women-owned businesses. The two pools offered in the sale hold about 700 loans totaling $129.6 million in unpaid principal balance. Bids on these pools are due Nov. 15.

The sale is being marketed with Bank of America Merrill Lynch and First Financial Network Inc. as advisers.