A winning bidder has been announced for nearly $600 million in non-performing government-sponsored enterprise residential loans.
The transaction involves 3,400 Federal National Mortgage Association mortgages that have an aggregate unpaid principal balance of $581 million.
Three pools are involved in the sale, which was initially marketed on May 10 in collaboration with Wells Fargo Securities LLC and The Williams Capital Group LP as advisors.
Fannie Mae said Friday that
the winning bidders for the pools were Goldman Sachs-affiliate MTGLQ Investors LP, Balbec Capital LP-affiliate Igloo Series III Trust and Rushmore Loan Management Services LLC.
Washington-based Fannie is selling the loans from its investment portfolio, which was previously reported at $279 billion as of April 30.
The sale is expected to close on July 26.
