Fannie's $1.6B reperforming loan sale won by DLJ Mortgage Capital
DLJ Mortgage Capital Inc. was the winning bidder on all four pools in Fannie Mae's second reperforming loan sale.
The sale consisted of 7,508 loans with an unpaid principal balance of $1.6 billion. The average loan size was $215,808, with a weighted average note rate of 4.1% and a weighted average broker's price opinion loan-to-value of 103.6%.
The cover bid for the entire transaction was 87% of the unpaid principal balance.
The transaction is expected to close on May 25.