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13.09.2017 17:11:00

Fannie Mae Announces Results of its Fourth Reperforming Loan Transaction

WASHINGTON, Sept. 13, 2017 /PRNewswire/ -- Fannie Mae (OTC Bulletin Board: FNMA) today announced the results of its fourth reperforming loan sale transaction. The deal, which was announced on August 10, 2017, included the sale of approximately 10,700 loans totaling $2.43 billion in unpaid principal balance (UPB), divided into three pools.  The winning bidder of all three pools for the transaction, which is expected to close on October 26, 2017, is MTGLQ Investors, L.P.

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

The loan pools awarded in this transaction include:

  • Pool 1: 4,200 loans with an aggregate unpaid principal balance of $984,619,405; average loan size $234,433; weighted average note rate 4.54%; weighted average broker's price opinion (BPO) loan-to-value ratio of 109.61%.
  • Pool 2: 2,001 loans with an aggregate unpaid principal balance of $461,732,787; average loan size $230,751; weighted average note rate 4.36%; weighted average BPO loan-to-value ratio of 97.54%.
  • Pool 3: 4,482 loans with an aggregate unpaid principal balance of $988,847,948; average loan size $220,626; weighted average note rate 4.35%; weighted average BPO loan-to-value ratio of 89.37%.

The cover bid price for the three pools was 91.51% of UPB (83.37% of 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.

View original content:http://www.prnewswire.com/news-releases/fannie-mae-announces-results-of-its-fourth-reperforming-loan-transaction-300518881.html

SOURCE Fannie Mae

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