News Release

November 14, 2018

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

Alicia Jones

202-752-5716

WASHINGTON, DC – Fannie Mae (FNMA/OTC) today announced the results of its ninth reperforming loan sale transaction. The deal, which was announced on October 11, 2018, included the sale of approximately 24,400 loans totaling $4.97 billion in unpaid principal balance (UPB), divided into five pools. The winning bidder of the five pools for the transaction, which is expected to close on December 20, 2018, 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: 3,709 loans with an aggregate unpaid principal balance of $767,067,973; average loan size $206,813; weighted average note rate 3.60%; weighted average broker's price opinion (BPO) loan-to-value ratio of 91%.
  • Group 2 Pool: 4,500 loans with an aggregate unpaid principal balance of $640,055,387; average loan size $142,235; weighted average note rate 4.17%; weighted average BPO loan-to-value ratio of 74%.
  • Group 3 Pool: 6,779 loans with an aggregate unpaid principal balance of $1,910,000,674; average loan size $281,753; weighted average note rate 3.40%; weighted average BPO loan-to-value ratio of 90%.
  • Group 4 Pool: 3,145 loans with an aggregate unpaid principal balance of $550,676,681; average loan size $175,096; weighted average note rate 4.15%; weighted average BPO loan-to-value ratio of 79%.
  • Group 5 Pool: 6,291 loans with an aggregate unpaid principal balance of $1,097,775,237; average loan size $174,499; weighted average note rate 4.14%; weighted average BPO loan-to-value ratio of 79%.

The cover bid, which is the second highest bid, was 86.25% of UPB (62.39% of BPO).

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

Fannie Mae helps make the 30-year fixed-rate mortgage and affordable rental housing possible for millions of Americans. We partner with lenders to create housing opportunities for families across the country. We are driving positive changes in housing finance to make the home buying process easier, while reducing costs and risk. To learn more, visit fanniemae.com and follow us on twitter.com/FannieMae.