Fannie Mae has announced the winning bidder for two pools in its second nonperforming loan sale, which includes roughly 3,900 loans carrying a total of $765 million in unpaid principal balance.
The two pools of loans in the sale will be purchased by a single bidder, an affiliate of Lone Star Funds. The deal is expected to close Sept. 25.
The first pool includes 831 loans with $175 million in UPB, while the second has 3,034 loans with UPB of $589 million. Lone Star's cover bid prices were 51.04% of UPB for the first pool and 86.28% of UPB for the second.
The sale, announced in July, also includes a smaller Community Impact pool. Bids for this grouping of 75 loans, which features $11 million in UPB, are due Aug. 25.
