A winning bidder has been announced for an offering of more than $2 billion in reperforming government-sponsored enterprise mortgages.
The offering, originally announced in August, was for nearly 11,000 Fannie Mae single-family loans with an aggregate unpaid principal balance of $2.5 billion.
Although the mortgages had previously been delinquent, they are now performing again as a result of
the borrowers bringing the payments current or modifications.
Washington-based Fannie announced Wednesday that the winning bidder for the loans is MTGLQ Investors LP. The Goldman Sachs Group Inc. affiliate has been the successful bidder on at least five other GSE loan sales since last year.
The sale includes
three pools with approximately 10,700 loans for $2.43 billion. The weighted-average loan-to-value ratio based on broker price opinions for the three pools ranged from 89.4 percent to 109.6 percent.
“The cover bid price for the three pools was 91.51 percent of UPB (83.37 percent of BPO),” the statement said.
Fannie is selling the loans from its investment portfolio, which was last reported at $246 billion as of July 31.
The sale was marketed in collaboration with Citigroup Global Markets Inc.
The transaction is expected to close on Oct. 26.
