A subsidiary of Goldman Sachs purchased all four pools in Fannie Mae's latest nonperforming loan sale.
MTGLQ Investors will purchase the pools, which contain roughly 7,900 loans with $1.48 billion in unpaid principal balance. The transaction, Fannie Mae's fifth NPL sale, is expected to close June 27.
"With this sale, we continue to reduce our holdings of nonperforming loans which creates additional opportunities for borrowers to avoid foreclosure, and limits the potential impact of these loans on Fannie Mae and taxpayers," said Joy Cianci, Fannie Mae's senior vice president of credit portfolio management, in a news release Friday.
Fannie Mae had begun marketing the loans to potential bidders April 12. The government-sponsored enterprise is still accepting bids for its third Community Impact Pool until May 19