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11.04.2018 19:38:00

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

WASHINGTON, April 11, 2018 /PRNewswire/ -- Fannie Mae (OTC Bulletin Board: FNMA) today announced the results of its sixth reperforming loan sale transaction. The deal, which was announced on March 13, 2018, included the sale of approximately 9,400 loans totaling $1.96 billion in unpaid principal balance (UPB), divided into two pools. The winning bidders are NRZ Mortgage Holdings LLC (Fortress) for Pool 1 and Towd Point Master Funding LLC (RMBS Cerberus) for Pool 2. The pools are expected to close on May 24, 2018.

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

The loan pools awarded in this most recent transaction include:

  • Group 1 Pool: 3,015 loans with an aggregate unpaid principal balance of $686,391,858; average loan size $227,659; weighted average note rate 4.04%; weighted average broker's price opinion (BPO) loan-to-value ratio of 75%.
  • Group 2 Pool: 2: 6,363 loans with an aggregate unpaid principal balance of $1,273,054,918; average loan size $200,071; weighted average note rate 3.12%; weighted average BPO loan-to-value ratio of 87%.

The cover bid, which is the second highest bid, on the aggregate was 92.30% of UPB (63.25% of BPO).

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.

Cision View original content:http://www.prnewswire.com/news-releases/fannie-mae-announces-the-results-of-its-sixth-reperforming-loan-sale-transaction-300628336.html

SOURCE Fannie Mae

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