Fannie Mae said it has awarded winning bids on the sale of non-performing loans. Two other recent similar transactions involved distressed and re-performing loans.
The Washington-based organization
said Friday that winning bidders have been named in the sale of two pools of non-performing loans.
It’s the first time that the secondary lender has had a sale of non-performing loans, according to a news release.
Fannie marketed the loans in
collaboration with Bank of America Merrill Lynch, Credit Suisse and The Williams Capital Group.
One pool includes 710 loans for $174 million. The winning bidder was
SW Sponsor LLC.
The second pool has 2,358 loans for $588 million.
Neuberger Berman Fixed Income Funds-affiliate PRMF Acquisition LLC was the winning bidder on that pool.
Fannie said the closing date is expected to be the middle of next month.
Last month, Freddie Mac
announced its first Extended Timeline Pool Offering an auction of deeply delinquent non-performing loans from its investment portfolio. The EXPO auctions have smaller transaction amounts and longer marketing times that make it easier for smaller investors and non-profits to participate in loan sales.
The loans are all secured by properties in Miami-Dade County, Florida.
Bids are being accepted by Freddie until June 2 for the $35 million in loans. The transaction is expected to settle in July.
Citigroup Mortgage Loan Trust 2015-A is a securitization of $297 million in performing and re-performing first liens serviced by Fay Servicing LLC.
On a weighted-average basis, the updated loan-to-value ratio is 100.7 percent, while the updated FICO score is 713 and the coupon is 4.96 percent.
