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Press Release

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

August 25, 2020

WASHINGTON, DC -

Fannie Mae (FNMA/OTCQB) today announced the results of its sixteenth reperforming loan sale transaction. The deal, which was announced on July 28, 2020, included the sale of approximately 18,190 loans totaling $3.37 billion in unpaid principal balance (UPB), divided into six pools. The winning bidders of the six pools for the transaction were DoubleLine Capital LP (DoubleLine) for Pool 1, LSRMF Mortgage Holdings II, LLC (Lone Star) for Pool 2, DLJ Mortgage Capital, Inc. (Credit Suisse) for Pool 3, Great Ajax Operating Partnership LP (Aspen Capital) for Pools 4 and 5, and JP Morgan Mortgage Acquisition Corp. (Chase) for Pool 6. The transaction is expected to close on September 25, 2020. The pools were marketed with Citigroup Global Markets Inc. as advisor.

The loan pools awarded in this most recent transaction include:

  • Pool 1: 2,448 loans with an aggregate unpaid principal balance of $553,556,523; average loan size $226,126; weighted average note rate 3.624%; weighted average broker's price opinion (BPO) loan-to-value ratio of 78%.
  • Pool 2: 2,147 loans with an aggregate unpaid principal balance of $448,884,977; average loan size $209,075; weighted average note rate 3.267%; weighted BPO loan-to-value ratio of 74%.
  • Pool 3: 4,409 loans with an aggregate unpaid principal balance of $711,583,814; average loan size $161,393; weighted average note rate 4.465%; weighted BPO loan-to-value ratio of 79%.
  • Pool 4: 3,578 loans with an aggregate unpaid principal balance of $570,146,232; average loan size $159,348; weighted average note rate 4.129%; weighted BPO loan-to-value ratio of 77%.
  • Pool 5: 2,481 loans with an aggregate unpaid principal balance of $518,217,233; average loan size $208,874; weighted average note rate 4.170%; weighted BPO loan-to-value ratio of 69%.
  • Pool 6: 3,125 loans with an aggregate unpaid principal balance of $567,290,447; average loan size $181,533; weighted average note rate 3.905%; weighted BPO loan-to-value ratio of 83%.

The cover bids, which are the second highest bids per pool, were 99.19% of UPB (69.58% of BPO) for Pool 1, 97.25% of UPB (63.85% of BPO) for Pool 2, 100.19% of UPB (66.63% of BPO) for Pool 3, 93.55% of UPB (62.07% of BPO) for Pool 4, 91.51% of UPB (55.95% of BPO) for Pool 5 and 84.03% of UPB (60.17% of BPO) for Pool 6.

Interested bidders can register for ongoing announcements, training, and other information at https://www.fanniemae.com/portal/funding-the-market/npl/index.html. Fannie Mae will also post information about specific pools available for purchase on that page.

About Fannie Mae
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:
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Opinions, analyses, estimates, forecasts and other views of Fannie Mae's Economic & Strategic Research (ESR) Group included in these materials should not be construed as indicating Fannie Mae's business prospects or expected results, are based on a number of assumptions, and are subject to change without notice. How this information affects Fannie Mae will depend on many factors. Although the ESR group bases its opinions, analyses, estimates, forecasts and other views on information it considers reliable, it does not guarantee that the information provided in these materials is accurate, current or suitable for any particular purpose. Changes in the assumptions or the information underlying these views, including assumptions about the duration and magnitude of shutdowns and social distancing, could produce materially different results. The analyses, opinions, estimates, forecasts and other views published by the ESR group represent the views of that group as of the date indicated and do not necessarily represent the views of Fannie Mae or its management.