13.11.2017 17:00:00

Fannie Mae Announces Results of its Fifth Reperforming Loan Sale Transaction

WASHINGTON, Nov. 13, 2017 /PRNewswire/ -- Fannie Mae (OTC Bulletin Board: FNMA) today announced the results of its fifth reperforming loan sale transaction. The deal, which was announced on October 11, 2017, included the sale of approximately 9,300 loans totaling $2.11 billion in unpaid principal balance (UPB), divided into four pools. The winning bidder of all four pools for the transaction, which is expected to close on December 18, 2017, is DLJ Mortgage Capital, Inc. (Credit Suisse).

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

The loan pools awarded in this most recent transaction include:

  • Group 1 Pool: 2,710 loans with an aggregate unpaid principal balance of $587,556,866; average loan size $216,811; weighted average note rate 4.11%; weighted average broker's price opinion (BPO) loan-to-value ratio of 89%.
  • Group 2 Pool: 2: 1,592 loans with an aggregate unpaid principal balance of $400,103,814; average loan size $251,321; weighted average note rate 4.27%; weighted average BPO loan-to-value ratio of 117%.
  • Group 3 Pool: 2,700 loans with an aggregate unpaid principal balance of $590,779,257; average loan size $218,807; weighted average note rate 4.12%; weighted average BPO loan-to-value ratio of 94%.
  • Group 4 Pool: 2,346 loans with an aggregate unpaid principal balance of $531,041,551; average loan size $226,360; weighted average note rate 4.14%; weighted average BPO loan-to-value ratio of 98%.

The cover bid, which is the second highest bid, was 90.70% of UPB (79.02% of BPO) for the four pools in the aggregate.

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 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.

View original content:http://www.prnewswire.com/news-releases/fannie-mae-announces-results-of-its-fifth-reperforming-loan-sale-transaction-300554647.html

SOURCE Fannie Mae

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