Fannie Mae Releases Results of Reperforming Loan Sale Transaction
Fannie Mae has released the results of its 13th reperforming loan sale transaction. The deal, which was announced Aug. 13, 2019, included the sale of approximately 29,400 loans totaling $5.1 billion in unpaid principal balance, divided into six pools. The winning bidders of the six pools for the transaction were Goldman Sachs Mortgage Company for Pool 1; Towd Point Master Funding LLC for Pools 2, 3, 4; NRZ Mortgage Holdings, LLC for Pool 5; and DLJ Mortgage Capital, Inc. for Pool 6.
The transaction is expected to close Oct. 25, 2019.
The pools were marketed with Citigroup Global Markets Inc. as advisor.
Loan Pools
The loan pools awarded in this most recent transaction include:
Group 1 Pool
- 3,298 loans with an aggregate unpaid principal balance of $752,107,728
- Average loan size $228,050
- Weighted average note rate 3.12%
- Weighted average broker’s price opinion (BPO) loan-to-value ratio of 75%
Group 2 Pool
- 7,328 loans with an aggregate unpaid principal balance of $1,484,418,320
- Average loan size $202,568
- Weighted average note rate 3.92%
- Weighted BPO loan-to-value ratio of 85%
Group 3 Pool
- 7,698 loans with an aggregate unpaid principal balance of $1,063,641,374
- Average loan size $138,171
- Weighted average note rate 5.02%
- Weighted BPO loan-to-value ratio of 68%
Group 4 Pool
- 3,504 loans with an aggregate unpaid principal balance of $585,171,556
- Average loan size $167,001
- Weighted average note rate 3.97%
- Weighted BPO loan-to-value ratio of 79%
Group 5 Pool
- 2,875 loans with an aggregate unpaid principal balance of $549,731,163
- Average loan size $191,211
- Weighted average note rate 4.24%
- Weighted BPO loan-to-value ratio of 72%
Group 6 Pool
- 4,664 loans with an aggregate unpaid principal balance of $678,220,033
- Average loan size $145,416
- Weighted average note rate 4.35%
- Weighted BPO loan-to-value ratio of 78%
