Fannie Mae has sold $1.47 billion in performing loans to Pacific Investment Management Company (PIMCO) as part of its 31st reperforming loan sale transaction, the government-sponsored enterprise (GSE) announced.
The deal involved three pools of loans totaling 6,484 mortgages with an aggregate unpaid principal balance of $1.47 billion. PIMCO was the winning bidder for all three pools, which were awarded individually.
Pool 1 comprises 2,959 loans with an average size of $225,481 and an average interest rate of 3.204%. Pool 2 consists of 2,197 loans with an average size of $226,941 and an average interest rate of 3.208%. The final Pool 3 includes 1,328 loans with an average size of $225,554 and an average interest rate of 3.201%.
