Goldman Sachs, Lone Star Among Winners in Latest Fannie NPL Sale

National Mortgage News - Jacob Passy September 6, 2016

Affiliates of Goldman Sachs, Lone Star Funds and Neuberger Berman are among the winners of Fannie Mae's latest nonperforming loans auction.

Goldman Sachs subsidiary MTGLQ Investors won the first pool, which contains 2,887 loans with an aggregate unpaid principal balance of $469 million. The average loan size of the pool is $162,418, while the weighted average note rate is 5.49%. The loans were delinquent on average by 44 months.

PRMF Acquisition, Neuberger Berman's affiliate, garnered the second pool of 1,551 loans with an aggregate unpaid principal balance of $234 million. For this pool, the average loan size $150,908, and the weighted average note rate came in at 5.55% The loans were on average 45 months delinquent.

Lone Star's affiliate, LSF9 Mortgage Holdings, won the third pool of loans. The pool held 1,638 loans with an aggregate unpaid principal balance of $238 million and an average loan size of $145,298. The loans' average weighted rate was 5.49%, and they were 33 months delinquent on average.

A fourth pool of 751 loans was won by MFA Financial. The loans in the pool have an aggregate unpaid principal balance of $124 million and an average loan size of $164,997. Additionally, the loans' average weighted note rate was 5.12%, and the weighted average delinquency is 39 months.

Fannie Mae began marketing the pools in early August in collaboration with Wells Fargo Securities and The Williams Capital Group. At that time, Fannie Mae also began marketing a separate "community impact" pool of loans; bids on that pool are due September 15.