Fannie Mae has chosen the winners of its latest nonperforming loan sales, which included roughly 9,400 loans with $1.68 billion in unpaid principal balance.
Three of the pools carrying $1.43 billion in unpaid principal balance were won by Goldman Sachs subsidiary MTGLQ Investors. This represents the seventh time the firm has won loans in a sale by Fannie Mae since November 2015.
The other pool in the sale, which contained 1,465 loans with $247 million in unpaid principal balance, was awarded to Balbec Capital subsidiary Igloo Series II Trust.
The cover bids, which are the second highest bids, for the four pools ranged from 51.3% to 88.5% of unpaid principal balance. Fannie Mae marketed the loans in collaboration with Bank of America Merrill Lynch and The Williams Capital Group.
