WASHINGTON– Fannie Mae has announced the results of its 34th reperforming loan sale transaction. The transaction, announced on March 4, 2025, included the sale of 3,130 loans totaling $558,713,266 in unpaid principal balance (UPB), offered in one pool.
The winning bidder was Pacific Investment Management Co., according to Fannie Mae, which said the transaction is expected to close by April 23, 2025.
The pool was marketed with Citigroup Global Markets Inc. as advisor.
Fannie Mae said the pool awarded in the most recent transaction includes 3,130 loans with an aggregate UPB of $558,713,266; average loan size of $178,503; weighted average note rate of 3.82%; and weighted average broker’s price opinion (BPO) loan-to-value ratio of 46%.
The cover bid, which is the second highest bid for the pool, was 84.66% of UPB (31.25% of BPO), Fannie Mae said.
What Are the Loans?
“Reperforming loans are loans that have been or are currently delinquent but have reperformed for a period of time,” the secondary mortgage market giant stated. “The terms of Fannie Mae’s reperforming loan sale require the buyer to offer loss mitigation options to any borrower who may re-default within five years following the closing of the reperforming loan sale. All purchasers are required to honor any approved or in-process loss mitigation efforts at the time of sale, including loan modifications. In addition, purchasers must offer delinquent borrowers a waterfall of loss mitigation options, including loan modifications, which may include principal forgiveness, prior to initiating foreclosure on any loan.”
How to Get More Info
Fannie Mae said interested bidders can register for ongoing announcements, training, and other information here. It added it will also post information about specific pools available for purchase on that page.
