PR Newswire
WASHINGTON, Nov. 8, 2016
WASHINGTON, Nov. 8, 2016 /PRNewswire/ -- Fannie Mae (OTC
Bulletin Board: FNMA) today announced the winning bidder for its reperforming loan sale. The sale included approximately 3,500
loans totaling $789.2 million in unpaid principal balance (UPB), divided into two pools. The
winning bidder of both pools for the transaction, expected to close on December 15, 2016, is Towd
Point Master Funding, LLC (Cerberus).
In collaboration with Citigroup Global Markets Inc., Fannie Mae began marketing these loans to potential bidders on
October 11, 2016.
"We are pleased to see a high level of investor interest in our reperforming loans," said Bob
Ives, vice president of retained portfolio asset management, Fannie Mae. "This sale supports our efforts to reduce the
size of the company's balance sheet."
The loan pools awarded in this transaction include:
- Pools 1 and 2: 3,508 loans with an aggregate unpaid principal balance of $789,212,882;
average loan size $224,975; weighted average note rate 4.07%; weighted average broker's price
opinion (BPO) loan-to-value ratio of 104%.
The cover bid price for the two pools is 88.15% of UPB (84.92% BPO).
Interested bidders can register for ongoing announcements, training, and other information at http://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.
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.
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SOURCE Fannie Mae