Fannie Mae Announces Winning Bidders in 12th Reperforming Loan Sale

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DLJ Mortgage Capital Inc., Goldman Sachs Mortgage Co. and 510 Model I are the purchasers of approximately 16,500 loans totaling $2.6 billion in unpaid principal balance (UPB) via Fannie Mae’s 12th reperforming loan sale transaction.

The loans were divided into four pools. DLJ Mortgage Capital was the winning bidder for Pools 1 and 2.

Pool 1 included 2,161 loans with an aggregate UPB of $446,429,087. The average loan size is $206,584; the weighted average note rate is 3.31%; and the weighted average broker’s price opinion (BPO) loan-to-value ratio of 75%. Pool 2 included 5,854 loans with an aggregate UPB of $878,017,169. The average loan size is $149,986; the weighted average note rate is 4.51%; and the weighted BPO loan-to-value ratio is 76%.

Goldman Sachs Mortgage Co., was the winning bidder for Pool 3. This pool is comprised of 5,668 loans with an aggregate UPB of $832,399,270. The average loan size is $146,859; the weighted average note rate is 4.38%; and the weighted average BPO loan-to-value ratio is 77%.

510 Model I was the winning bidder for Pool 4. This pool included 2,818 loans with an aggregate UPB of $445,307,819. The average loan size is $158,023; the weighted average note rate is 4.29%; and the weighted average BPO loan-to-value ratio is 76%.

The pools were marketed with Citigroup Global Markets Inc. as advisor.

The cover bids, which are the second highest bids per pool, were 93.45% of UPB (63.16% of BPO) for Pool 1, 97.25% of UPB (60.34% of BPO) for Pool 2, 93.75% of UPB (60.09% of BPO) for Pool 3 and 90.18% of UPB (57.15% of BPO) for Pool 4.

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