Nomura Corporate Funding Americas, Towd Point Master Funding, Athene Annuity and Life Co./Athene Annuity and Life Assurance Co., and Goldman Sachs Mortgage Co. were the winning bidders on four pools of reperforming loans recently auctioned by Fannie Mae.
The four pools included approximately 18,300 loans totaling $3.58 billion in unpaid principal balance (UPB).
The “Group 1” pool, acquired by Nomura, had 3,091 loans with an aggregate UPB of $487,784,941; an average loan size $157,808; a weighted average note rate 4.24%; and a weighted average broker’s price opinion (BPO) loan-to-value ratio of 76%.
The “Group 2” pool, acquired by Towd Point, included 4,839 loans with an aggregate UPB of $651,451,525; an average loan size $134,625; a weighted average note rate 4.28%; and a weighted average BPO loan-to-value ratio of 69%.
The “Group 3” pool, acquired by Athene, included 2,115 loans with an aggregate UPB of $498,751,687; an average loan size $235,816; a weighted average note rate 3.42%; and a weighted average BPO loan-to-value ratio of 88%.
The “Group 4” pool, acquired by Goldman Sachs Mortgage, included 8,277 loans with an aggregate UPB of $1,939,030,553; an average loan size $234,267; a weighted average note rate 3.42%; and a weighted average BPO loan-to-value ratio of 89%.
The pools were marketed with Citigroup Global Markets Inc. as advisor.
The cover bids, which are the second highest bids per pool, were 89.50% of UPB (54.98% of BPO) for Pool 1; 95.60% of UPB (55.30% of BPO) for Pool 2; 86.75% of UPB (68.71% of BPO) for Pool 3; and 85.77% of UPB (68.28% of BPO) for Pool 4.
