WASHINGTON , May 11, 2021 /PRNewswire/ -- Fannie Mae (OTCQB: FNMA) today announced the results of its twentieth reperforming loan sale transaction. The deal, which was announced on April 8, 2021 , included the sale of approximately 24,600 loans totaling $4.25 billion in unpaid principal balance (UPB), divided into five pools. The winning bidders of the five pools for the transaction were Pacific Investment Management Company LLC (PIMCO) for Pools 1, 2 and 3; J.P. Morgan Mortgage Acquisition Corp. (Chase) for Pool 4; and Great Ajax Operating Partnership, LP ( Aspen ) for Pool 5. The transaction is expected to close on June 18, 2021 . The pools were marketed with Citigroup Global Markets Inc. as advisor.
The loan pools awarded in this most recent transaction include:
- Pool 1: 3,604 loans with an aggregate UPB of $773,103,188 ; average loan size of $214,513 ; weighted average note rate of 3.29%; and weighted average broker's price opinion (BPO) loan-to-value ratio of 82%.
- Pool 2: 3,630 loans with an aggregate UPB of $770,449,422 ; average loan size of $212,245 ; weighted average note rate of 3.12%; and weighted BPO loan-to-value ratio of 60%.
- Pool 3: 7,888 loans with an aggregate UPB of $1,191,043,442 ; average loan size of $150,994 ; weighted average note rate of 4.04%; and weighted BPO loan-to-value ratio of 61%.
- Pool 4: 4,721 loans with an aggregate UPB of $721,912,807 ; average loan size of $152,915 ; weighted average note rate of 4.03%; and weighted BPO loan-to-value ratio of 63%.
- Pool 5: 4,739 loans with an aggregate UPB of $790,446,866 ; average loan size of $166,796 ; weighted average note rate of 3.99%; and weighted BPO loan-to-value ratio of 65%.
The cover bids, which are the second highest bids per pool, were 99.04% of UPB (78.83% of BPO) for Pool 1, 99.57% of UPB (55.49% of BPO) for Pool 2, 103.05% of UPB (52.86% of BPO) for Pool 3, 100.54% of UPB (53.49% of BPO) for Pool 4 and 96.21% of UPB (53.24% of BPO) for Pool 5.
Interested bidders can register for ongoing announcements, training, and other information here . Fannie Mae will also post information about specific pools available for purchase on that page.
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SOURCE Fannie Mae