Fannie Sells Second Batch of NPLs to Lone Star Funds Unit
August 28, 2015
Fannie Mae said last week that Lone Star Funds’ LSF9 Mortgage Holdings was the sole winning bidder on its second sale of two pools of non-performing loans announced in July. The government-sponsored enterprise offered separate pools of approximately 3,900 loans, totaling $765 million in unpaid principal balance. The first pool included 831 loans with an aggregate UPB of $175.4 million and $211,179 average loan size. The second pool included 3,034 loans with an aggregate UPB of $589.4 million and average loan size of $194,298. On average, the loans in both pools have been delinquent for 37 months with an average BPO LTV of 76 percent. The transaction expects to settle Sept. 25.