PR Newswire
WASHINGTON, June 14, 2022
WASHINGTON, June 14, 2022 /PRNewswire/ -- Fannie Mae (OTCQB: FNMA) today announced the results of its nineteenth non-performing loan sale transaction. The deal, announced on May 12, 2022, included the sale of approximately 3,220 loans totaling $477.2 million in unpaid principal balance (UPB), divided into two pools. The winning bidder of the two pools for the transaction was MCLP Asset Company, Inc. (Goldman Sachs) for Pool 1 and Pool 2; pools were awarded individually. The transaction is expected to close on July 27, 2022. The pools were marketed with BofA Securities, Inc. and First Financial Network, Inc. as advisors.
The loan pools awarded in this most recent transaction include:
The cover bids, which are the second highest bids per pool, were 94.59% of UPB (45.64% of BPO) for Pool 1 and 101.59% of UPB (40.42% of BPO) for Pool 2.
Bids are due on Fannie Mae's nineteenth Community Impact Pool on June 21, 2022.
All purchasers are required to honor any approved or in-process loss mitigation efforts at the time of sale, including forbearance arrangements and loan modifications. In addition, purchasers must offer delinquent borrowers a waterfall of loss mitigation options, including loan modifications, which may include principal forgiveness, prior to initiating foreclosure on any loan.
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.
About Fannie Mae
Fannie Mae advances equitable and sustainable access to homeownership and quality, affordable rental housing for millions of people across America. We enable the 30-year fixed-rate mortgage and drive responsible innovation to make homebuying and renting easier, fairer, and more accessible. To learn more, visit:
fanniemae.com | Twitter | Facebook | LinkedIn | Instagram | YouTube | Blog
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SOURCE Fannie Mae
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