The bidding for Fannie Mae’s eighth non-performing loan sale is over, and the GSE has recently announced the winner of the offering. According to a recent release from the entity, the sale included roughly 6,900 loans divided between five pools totaling $1.3 billion in unpaid principal balance (UPB).
MTGLQ Investors, L.P. (Goldman Sachs) were reported as the winning bidder for the pools. Fannie Mae says that the purchase is anticipated to close on December 23, 2016.
“As we work to reduce the number of seriously delinquent loans in Fannie Mae’s portfolio, we are pleased to continue to offer borrowers additional options to avoid foreclosure and help stabilize neighborhoods,” said Joy Cianci, SVP, Single-Family Credit Portfolio Management for Fannie Mae in the announcement of the sale.
The loan pools awarded in this most recent transaction included:
- Group 1 Pool with 1,873 loans with an aggregate unpaid principal balance of $364,476,290
- Group 2 Pool with 1,908 loans with an aggregate unpaid principal balance of $358,667,364
- Group 3 Pool with 1,864 loans with an aggregate unpaid principal balance of $330,111,531
- Group 4 Pool with 987 loans with an aggregate unpaid principal balance of $217,547,090
- Group 5 Pool with 302 loans with an aggregate unpaid principal balance of $56,090,719
To view the full details of Fannie Mae’s eighth non-performing loan sale, click HERE.