WASHINGTON, DC—As it signaled it would earlier this week, Fannie Mae marketing its first bulk-sale of non-performing loans. When it first announced its intention to bring to market this pool it didn't include details about the transaction.

For its first offering, Fannie Mae is bringing a pool of 3,200 loans totaling $786 million in unpaid principal balance to market for qualified bidders.

This sale is being marketed in collaboration with Bank of America Merrill Lynch, Credit Suisse and The Williams Capital Group.

"We are pleased to offer this first transaction, which will help us reduce the number of seriously delinquent loans we own while providing additional foreclosure prevention opportunities," says Joy Cianci, Fannie Mae's Senior Vice President for Credit Portfolio Management, in a prepared statement.

"We plan to build these sales into a programmatic offering, and look forward to working with a diverse range of potential buyers over time, including smaller investors, nonprofit organizations and minority- and women-owned businesses."

Fannie Mae is not commenting on the sale beyond what is in the press release, a spokesperson tells GlobeSt.com.

This pool is one of many new structures the GSEs are offering as part of their larger goal of getting non-performing loans off of their balance sheets.

This week, Freddie Mac also announced it would pre-market its first actual loss STACR offering in coming days.

With an actual loss STACR (which stands for Structured Agency Credit Risk), instead of allocating losses to the debt notes based upon a fixed severity approach, losses will be allocated based on the actual losses realized on the related reference obligations. The GSE will sell the first loss and mezzanine tranches, as it does in other STACR deals while retaining a vertical slice of each tranche sold.