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Goldman Sachs Affiliate Takes All Five Pools in Fannie NPL Sale

A Goldman Sachs affiliate submitted the winning bids in Fannie Mae's eighth nonperforming loan sale.

There were five pools auctioned in the sale won by MTLGQ Investors LP, consisting of approximately 6,900 loans with $1.3 billion in unpaid principal balance.

The first pool consisted of $364.5 million of loans and had a weighted average loan-to-value ratio of 96.3%, and the cover bid was 69.3% of the unpaid principal balance.

Pool two was for $358.7 million, with a weighted average LTV of 97.6 % and a 68.3% cover bid.

The third pool with a UPB of $330 million, had the lowest weighted average LTV at 72.6%, and therefore got the highest cover bid at 86.5%.

The last two pools had weighted average LTVs of 134.2% and 131%, respectively. Pool four's UPB was $217.5 million with a 52.3% cover bit, while pool five's UPB was $56 million with a 67.1% cover bid.

This sale was conducted in collaboration with Wells Fargo Securities and was marketed to potential bidders starting Oct. 11. It should close on Dec. 23.

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