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Impact Investment Fund Acquires Millions In Non-Performing Loans

DRI Fund recently brought in more than $9 million in unpaid principal balance of non-performing loans to assist residents in low and moderate income communities with housing preservation and a path to homeownership. As an impact investment manager, DRI is also certified by the U.S. Department of Treasury as a Community Development Financial Institution (“CDFI”). CDFIs are mission-driven financial institutions dedicated to providing financial services that meet the needs of underserved communities. DRI secured the $9.3 million UPB in single-family, non-performing loans with an average loan size of $221,970.40, delinquency of 5 years, note rate at 5.395% and loan-to-value ratio of 74%. “Our...