Fannie Mae has begun accepting bids on its second sale of reperforming loans.
The government-sponsored enterprise is selling roughly 7,600 loans with $1.65 billion in unpaid principal balance. Bids on the pool are due April 5.
Fannie Mae is marketing the sale in collaboration with Citigroup Global Markets.
The sale is part of Fannie's efforts to reduce the size of its balance sheet. The GSE is expecting "a similar high level of investor interest" as it received with its first reperforming loan sale last year, said Bob Ives, Fannie Mae's vice president of retain portfolio asset management, in a news release Tuesday.
Cerberus Capital Management affiliate Towd Point Master Funding placed the winning bid in Fannie's first reperforming loan sale, which featured two pools with $789.2 million in unpaid principal balance.