Fannie Mae Announces Results of its Second Reperforming Loan Sale Transaction
WASHINGTON, DC – Fannie Mae (FNMA/OTC) today announced the results of its second reperforming loan sale transaction. The deal, which was announced on March 14, 2017, included the sale of approximately 7,500 loans totaling $1.62 billion in unpaid principal balance (UPB), divided into four pools. DLJ Mortgage Capital, Inc. was the winning bidder on all four pools, and the transaction is expected to close on May 25, 2017.
The pools were marketed with Citigroup Global Markets Inc. as advisor.
The loan pools awarded in this transaction include:
- Pools 1, 2, 3 and 4: 7,508 loans with an aggregate unpaid principal balance of $1,620,289,531; average loan size $215,808.41; weighted average note rate 4.10%; weighted average broker's price opinion (BPO) loan-to-value ratio of 103.60%.
The cover bid price for the four pools is 87% of UPB (83.16% BPO).
Bidders that are interested in future sales of Fannie Mae non-performing and reperforming loans can register for ongoing announcements, training, and other information at https://www.fanniemae.com/portal/funding-the-market/npl/index.html.Fannie Mae helps make the 30-year fixed-rate mortgage and affordable rental housing possible for millions of Americans. We partner with lenders to create housing opportunities for families across the country. We are driving positive changes in housing finance to make the home buying process easier, while reducing costs and risk. To learn more, visit fanniemae.com and follow us on twitter.com/FannieMae.