Fannie Mae Announces Winning Bidders For Its Fourth NPL Sale

Posted by Patrick Barnard on February 10, 2016 No Comments

Canyon Partners (Carlsbad Funding Mortgage Loan Acquisition LP), Pretium Mortgage Credit Partners I Loan Acquisition LP and Goldman Sachs (MTGLQ Investors LP) are the winning bidders on four pools of nonperforming loans (NPLs) recently auctioned by government-sponsored enterprise Fannie Mae.

The sale included approximately 6,500 loans totaling $1.32 billion in unpaid principal balance.

The transactions are expected to close on March 28.

“We are committed to reducing Fannie Mae’s holdings of [NPLs] in a responsible way,” says Joy Cianci, senior vice president of credit portfolio management for Fannie Mae, in a release. “We continue to work with struggling homeowners to prevent foreclosures whenever we can. This sale of seriously delinquent loans can create additional opportunities for borrowers to avoid foreclosure while reducing the impact of these loans for Fannie Mae and the taxpayers.”

For more information about the transactions, click here.

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