Goldman Sachs, Balbec Capital Among Latest NPL Sale Winners

Posted by Michael Bates on June 12, 2017 No Comments
Categories : Residential Mortgage

Government-sponsored enterprise (GSE) Fannie Mae has announced that MTGLQ Investors (Goldman Sachs), Igloo Series III Trust (Balbec Capital LP) and Rushmore Loan Management Services LLC are the winning bidders for its 10th nonperforming loan sale.

According to the GSE, the sale included approximately 3,400 loans totaling $581.1 million in unpaid principal balance (UPB), divided among three pools. MTGLQ Investors won pool 1, Igloo Series III Trust won pool 2, and Rushmore won pool 3.

The details are as follows:

  • Pool 1: 808 loans with an aggregate UPB of $127.7 million; average loan size, $158,064; weighted average note rate, 5.03%; weighted average delinquency, 38 months; weighted average broker’s price opinion (BPO) loan-to-value (LTV) ratio of 86.84%.
  • Pool 2: 681 loans with an aggregate UPB of $115.8 million; average loan size, $170,048; weighted average note rate, 4.8%; weighted average delinquency, 28 months; weighted average BPO LTV ratio of 81.03%.
  • Pool 3: 1,929 loans with an aggregate UPB of $337.7 million; average loan size, $175,048; weighted average note rate, 4.87%; weighted average delinquency, 30 months; weighted average BPO LTV ratio of 88.02%.

Fannie Mae says the transaction is expected to close on July 26.

Register here to receive our Latest Headlines email newsletter




Leave a Comment