Towd Point Master Funding and NRZ Mortgage Holdings were the winning bidders in Fannie Mae’s most recent re-performing loan sale.
This most recent transaction, which is expected to close on April 25, included the sale of approximately 15,000 re-performing loans (RPLs) totaling $3.0 billion in unpaid principal balance (UPB), divided into four pools.
Towd Point Master Funding is the purchaser of Pools 1, 2 and 3 while NRZ Mortgage Holdings acquired Pool 4.
Pool 1 includes 5,640 loans with an aggregate UPB of about $1.197 billion. The average loan size is $212,315. The weighted average note rate is 4.31%. The weighted average broker’s price opinion (BPO) loan-to-value ratio is 87%.
Pool 2 includes 2,821 loans with an aggregate UPB of about $598 million. The average loan size is $212,006. The weighted average note rate is 4.29 %. The weighted average BPO loan-to-value ratio is 86%.
Pool 3 includes 2,555 loans with an aggregate UPB of about $569 million. The average loan size is $222,625. The weighted average note rate is 4.15%. The weighted average BPO loan-to-value ratio of 73%.
Pool 4 includes 4,028 loans with an aggregate UPB of about $639 million. The average loan size is $158,582 The weighted average note rate 4.61% The weighted average BPO loan-to-value ratio is 75%.
The cover bids, which are the second highest bids per pool, were 88.81% of UPB (65.05% of BPO) for Pool 1; 88.81% of UPB (64.69% of BPO) for Pool 2; 86.08% of UPB (56.56% of BPO) for Pool 3; and 90.85% of UPB (54.10% of BPO) for Pool 4.
