News Release

July 18, 2019

Fannie Mae Announces the Results of its Twelfth Reperforming Loan Sale Transaction

Alicia Jones

202-752-5716

WASHINGTON, DC – Fannie Mae (FNMA/OTCQB) today announced the results of its twelfth reperforming loan sale transaction. The deal, which was announced on June 13, 2019, included the sale of approximately 16,500 loans totaling $2.6 billion in unpaid principal balance (UPB), divided into four pools. The winning bidders of the four pools for the transaction were DLJ Mortgage Capital, Inc. (Credit Suisse) for Pools 1 & 2, Goldman Sachs Mortgage Company (Goldman Sachs) for Pool 3, and 510 Model I, LLC (400 Capital Management) for Pool 4. The transaction is expected to close on August 27, 2019.

The pools were marketed with Citigroup Global Markets Inc. as advisor.

The loan pools awarded in this most recent transaction include:

  • Group 1 Pool: 2,161 loans with an aggregate unpaid principal balance of $446,429,087; average loan size $206,584; weighted average note rate 3.31%; weighted average broker's price opinion (BPO) loan-to-value ratio of 75%.
  • Group 2 Pool: 5,854 loans with an aggregate unpaid principal balance of $878,017,169; average loan size $149,986; weighted average note rate 4.51%; weighted BPO loan-to-value ratio of 76%.
  • Group 3 Pool: 5,668 loans with an aggregate unpaid principal balance of $832,399,270; average loan size $146,859; weighted average note rate 4.38%; weighted average BPO loan-to-value ratio of 77%.
  • Group 4 Pool: 2,818 loans with an aggregate unpaid principal balance of $445,307,819; average loan size $158,023; weighted average note rate 4.29%; weighted average BPO loan-to-value ratio of 76%.

The cover bids, which are the second highest bids per pool, were 93.45% of UPB (63.16% of BPO) for pool 1, 97.25% of UPB (60.34% of BPO) for pool 2, 93.75% of UPB (60.09% of BPO) for pool 3 and 90.18% of UPB (57.15% of BPO) for pool 4.

Bidders interested in future sales of Fannie Mae non-performing and reperforming loans can register for ongoing announcements, training, and other information at http://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.