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Fannie Mae Announces the Results of its Thirty-fourth Reperforming Loan Sale Transaction
WASHINGTON, April 1, 2025
WASHINGTON, April 1, 2025 /PRNewswire/ -- Fannie Mae (OTCQB: FNMA) today announced the results of its thirty-fourth reperforming loan sale transaction. The transaction, announced on March 4, 2025, included the sale of 3,130 loans totaling $558,713,266 in unpaid principal balance (UPB), offered in one pool. The winning bidder was Pacific Investment Management Company LLC. The transaction is expected to close by April 23, 2025. The pool was marketed with Citigroup Global Markets Inc. as advisor.
- The pool awarded in this most recent transaction includes 3,130 loans with an aggregate UPB of $558,713,266; average loan size of $178,503; weighted average note rate of 3.82%; and weighted average broker's price opinion (BPO) loan-to-value ratio of 46%.
The cover bid, which is the second highest bid for the pool, was 84.66% of UPB (31.25% of BPO).
Reperforming loans are loans that have been or are currently delinquent but have reperformed for a period of time. The terms of Fannie Mae's reperforming loan sale require the buyer to offer loss mitigation options to any borrower who may re-default within five years following the closing of the reperforming loan sale. All purchasers are required to honor any approved or in-process loss mitigation efforts at the time of sale, including loan modifications. In addition, purchasers must offer delinquent borrowers a waterfall of loss mitigation options, including loan modifications, which may include principal forgiveness, prior to initiating foreclosure on any loan.
Interested bidders can register for ongoing announcements, training, and other information here. Fannie Mae will also post information about specific pools available for purchase on that page.
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SOURCE Fannie Mae
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