Winning bidders have been announced for more than a billion dollars in government-sponsored enterprise residential loans that are not currently performing.
The Fannie Mae loans were offered for sale last month in five pools containing over 7,000 loans
with an aggregate unpaid principal balance of around $1.1 billion.
Winning bidders were announced on Tuesday for four of the pools with approximately 6,800 home loans that have an unpaid principal balance of $1.06 billion.
On a weighted-average basis, the note rates for the four pools range from
5.12 percent to 5.55 percent, delinquency ranges from 33 months to 45 months, and the loan-to-value ratios based on broker-price opinions range from 97 percent to 124 percent.
Fannie is selling the loans from its investment portfolio, which totaled $309 billion as of July 31.
The winning bidders are
Goldman Sachs-affiliate MTGLQ Investors LP, Neuberger Berman-affiliate PRMF Acquisition LLC, Lone Star-affiliate LSF9 Mortgage Holdings LLC and MFA Financial Inc.
The transaction, which was marketed in collaboration with Wells Fargo Securities LLC and The Williams Capital Group LP, is expected to close on Oct. 25.
Bids for the fifth pool are due by Sept. 15.
