13.06.2017 16:00:00

Fannie Mae Announces Results of its Third Reperforming Loan Sale Transaction


WASHINGTON, June 13, 2017 /PRNewswire/ -- Fannie Mae (OTC Bulletin Board: FNMA) today announced the results of its third reperforming loan sale transaction. The deal, which was announced on May 10, 2017, included the sale of approximately 13,500 loans totaling $2.99 billion in unpaid principal balance (UPB), divided into three pools. The winning bidder of all three pools for the transaction, expected to close on July 21, 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 transaction include:

  • Pool 1: 5,179 loans with an aggregate unpaid principal balance of $1,147,189,914; average loan size $221,508.00; weighted average note rate 4.45%; weighted average broker's price opinion (BPO) loan-to-value ratio of 94.90%.
  • Pool 2: 5,096 loans with an aggregate unpaid principal balance of $1,120,135,737; average loan size $219,806.86; weighted average note rate 4.43%; weighted average broker's price opinion (BPO) loan-to-value ratio of 112.65%.
  • Pool 3: 3,254 loans with an aggregate unpaid principal balance of $731,116,035; average loan size $224,682.25; weighted average note rate 3.86%; weighted average broker's price opinion (BPO) loan-to-value ratio of 93.19%.

The cover bid prices for the three pools were the following:  All-Or-Nothing (AON) on pools 1 and 2 – 88.28% of UPB (84.71% BPO) and pool 3 – 91.30% of UPB (80.91% 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 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.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/fannie-mae-announces-results-of-its-third-reperforming-loan-sale-transaction-300472969.html

SOURCE Fannie Mae

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