Fannie Mae Announces the Results of its Eleventh Reperforming Loan Sale Transaction

Alicia Jones

202-752-5716

WASHINGTON, DC – Fannie Mae (FNMA/OTCQB) today announced the results of its eleventh reperforming loan sale transaction. The deal, which was announced on April 11, 2019, included the sale of approximately 21,200 loans totaling $3.27 billion in unpaid principal balance (UPB), divided into four pools. The winning bidder of the four pools for the transaction, which is expected to close on June 21, 2019, was DLJ Mortgage Capital, Inc. (Credit Suisse).

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

The loan pools awarded in this most recent transaction include:

• Group 1 Pool: 2,808 loans with an aggregate unpaid principal balance of $562,968,352; average loan size $200,487; weighted average note rate 3.90%; weighted average broker's price opinion (BPO) loan-to-value ratio of 71%.
• Group 2 Pool: 6,837 loans with an aggregate unpaid principal balance of $988,152,544; average loan size $144,530; weighted average note rate 4.86%; weighted BPO loan-to-value ratio of 77%.
• Group 3 Pool: 6,954 loans with an aggregate unpaid principal balance of $992,818,709; average loan size $142,769; weighted average note rate 4.85%; weighted average BPO loan-to-value ratio of 75%.
• Group 4 Pool: 4,620 loans with an aggregate unpaid principal balance of $730,740,732; average loan size $158,169; weighted average note rate 4.53%; weighted average BPO loan-to-value ratio of 82%.

The cover bid, which is the second highest bid, was 92.80% of UPB (59.15% of BPO) for the total of the four pools which were purchased on an all-or-none basis.

Bidders interested in future sales of Fannie Mae non-performing and reperforming loans can register for ongoing announcements, training, and other information at https://www.fanniemae.com/portal/funding-the-market/npl/index.html.