An investment banking firm has won its bid to acquire more than $1.6 billion in reperforming government-sponsored enterprise mortgages.
Approximately 6,500 residential loans with an aggregate unpaid principal balance of $1.62 billion were originally marketed for sale last month.
While the mortgages had been
previously delinquent, payments have since been brought current without the use of any loan modifications.
On Thursday, the Federal National Mortgage Association , which is the seller, announced that DLJ Mortgage Capital Inc. was the winning bidder.
Washington-based Fannie Mae is selling the loans from its investment portfolio, which stood at $269 billion as of Feb. 28.
The transaction is expected to close on May 25, 2017.
The loans were
marketed with Citigroup Global Markets Inc. as advisor.
