DLJ Mortgage Capital Inc. (Credit Suisse) is the winning bidder on five pools of reperforming loans recently auctioned by Fannie Mae.
The deal, which is expected to close in December, included the sale of approximately 24,400 loans totaling $4.97 billion in unpaid principal balance (UPB).
The pools were marketed with Citigroup Global Markets Inc. as advisor.
The Group 1 Pool included 3,709 loans with an aggregate UPB of $767,067,973; an average loan size of $206,813; a weighted average note rate of 3.60%; and a weighted average broker’s price opinion (BPO) loan-to-value ratio of 91%.
The Group 2 Pool included 4,500 loans with an aggregate UPB of $640,055,387; an average loan size of $142,235; a weighted average note rate 4.17%; and a weighted average BPO loan-to-value ratio of 74%.
The Group 3 Pool included 6,779 loans with UPB of $1,910,000,674; an average loan size of $281,753; a weighted average note rate of 3.40%; and a weighted average BPO loan-to-value ratio of 90%.
The Group 4 Pool included 3,145 loans with UPB of $550,676,681; an average loan size of $175,096; a weighted average note rate of 4.15%; and a weighted average BPO loan-to-value ratio of 79%.
The Group 5 Pool included 6,291 loans with UPB of $1,097,775,237; an average loan size of $174,499; a weighted average note rate of 4.14%; and a weighted average BPO loan-to-value ratio of 79%.
The cover bid, which is the second highest bid, was 86.25% of UPB (62.39% of BPO).
