Fannie Mae is auctioning a portfolio of approximately 27,000 reperforming mortgage loans (RPLs) with total unpaid principal balance (UPB) of approximately $6.17 billion.
This is the government-sponsored enterprise’s second RPL sale this year and its seventh since it began offloading its more risky assets in an effort to protect taxpayers.
The portfolio is being offered in four separate pools. Pool 1 is approximately $559.6 million in UPB, Pool 2 is approximately $938.2 million in UPB, Pool 3 is approximately $1.2 billion in UPB and Pool 4 is approximately $3.5 billion in UPB.
The loans in all four pools are currently being serviced by Mr. Cooper.
The sale is being marketed in collaboration with Citigroup Global Markets Inc.
Bids are due on July 10.