MTGLQ Investors Buys $1.88B in NPLs from Fannie Mae, $4.4B RPL Sale Announced


MTGLQ Investors LP, a Goldman Sachs subsidiary, is the winning bidder on five pools of nonperforming loans (NPLs) totaling $1.88 billion in unpaid principal balance (UPB) recently auctioned by Fannie Mae.

In addition, the government-sponsored enterprise (GSE) has announced its ninth sale of reperforming loans (RPLs) as part of its ongoing effort to reduce the size of its retained mortgage portfolio.

The completed NPL sale, conducted in collaboration with Bank of America Merrill Lynch and Williams Capital Group, includes approximately 10,300 nonperforming loans and is expected to close on Nov. 21.

The cover bids, which are the second highest bids per pool, were 88.2% of UPB (58.1% of BPO) for Pool 1, 98.4% of UPB (52.6% of BPO) for Pool 2, 60.5% of UPB (68.4% of BPO) for Pool 3, 82.0% of UPB (77.9% of BPO) for Pool 4 and 78.0% of UPB (45.8% of BPO) for Pool 5.

Bids are due on Fannie Mae’s 14th Community Impact Pools on October 23.

The RPL sale, meanwhile, consists of approximately 21,400 loans with UPB of approximately $4.4 billion.

It is being marketed in collaboration with Citigroup Global Markets Inc.

Bids for the RPLs are due Nov. 6.

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