Fannie Mae has announced the results of its twenty-first non-performing loan (NPL) sale transaction. The deal, announced on August 10, included the sale of approximately 1,371 loans totaling $225.4 million in unpaid principal balance (UPB), offered in one pool.
The winning bidder of the pool for the transaction was RCAF Loan Acquisition LP (Pretium). The transaction is expected to close on October 20. The loan pool awarded in this most recent transaction includes:
Pool 1: 1,371 loans with an aggregate UPB of $225,368,552; average loan size of $164,383; weighted average note rate of 4.70%; and weighted average broker’s price opinion (BPO) loan-to-value ratio of 41%.
The cover bid, which is the second highest bid for the pool, was 98.12% of UPB (40.58% of BPO).
The pools were marketed with BofA Securities Inc. and First Financial Network Inc. as advisors.
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