Fannie Mae Announces Winner of its Latest Non-Performing Loan Sale
06/15/2021 - 10:00 AM
WASHINGTON , June 15, 2021 /PRNewswire/ -- Fannie Mae (OTCQB: FNMA) today announced the results of its seventeenth non-performing loan sale transaction. The deal, which was announced on May 13, 2021 , included the sale of approximately 8,000 loans totaling $1.6 billion Aspen ) for Pool 1; VRMTG ACQ, LLC (VWH Capital Management, LP) for Pools 2 and 4; and DLJ Mortgage Capital, Inc. (Credit Suisse) for Pool 3. The transaction is expected to close on July 23, 2021 . The pools were marketed with BofA Securities, Inc. and First Financial Network, Inc. as advisors.
The loan pools awarded in this most recent transaction include:
Pool 1: 1,046 loans with an aggregate UPB of $178,382,669 ; average loan size of $ $170,538 ; weighted average note rate of 4.33% ; and weighted average broker's price opinion (BPO) loan-to-value ratio of 64% . Pool 2: 4,103 loans with an aggregate UPB of $ $744,634,885 ; average loan size of $181,485 ; weighted average note rate of 4.56% ; and weighted BPO loan-to-value ratio of 59% . Pool 3: 1,280 loans with an aggregate UPB of $357,198,006 ; average loan size of $279,061 ; weighted average note rate of 3.79% ; and weighted BPO loan-to-value ratio of 114% . Pool 4: 1,587 loans with an aggregate UPB of $$307,938,274; average loan size of $194,038 ; weighted average note rate of 4.26% ; and weighted BPO loan-to-value ratio of 75% . The cover bids, which are the second highest bids per pool, were 97.59% of UPB (53.01% of BPO) for Pool 1, 102.29% of UPB (51.48% of BPO) for Pool 2, 66.19% of UPB (72.81% of BPO) for Pool 3, and 97.07% of UPB (61.12% of BPO) for Pool 4.
Bids are due on Fannie Mae's seventeenth Community Impact Pool on June 22, 2021 .
Interested bidders can register for ongoing announcements, training, and other information here . Fannie Mae will also post information about specific pools available for purchase on that page.
About Fannie Mae Fannie Mae helps make the 30-year fixed-rate mortgage and affordable rental housing possible for millions of people in America. 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 Twitter | Facebook | LinkedIn | Instagram | YouTube | Blog
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fannie mae serves the people who house america. we are a leading source of financing for mortgage lenders, providing access to affordable mortgage financing in all markets at all times. our financing makes sustainable homeownership and workforce rental housing a reality for millions of americans. we also help make possible the popular 30-year, fixed-rate mortgage, which provides homeowners with stable, predictable mortgage payments over the life of the loan. our tools and resources help homebuyers, homeowners, and renters understand their housing options. we put our customers and partners at the center of everything we do. we apply our experience and expertise to deliver innovative solutions to help our customers succeed. at fannie mae, our people pour their hearts into everything they do. because we know it makes a real difference in others’ lives. we are committed to moving forward with our partners to build a stronger, safer, more efficient housing finance system. join us at the hea
