Fannie Mae sells $1 billion in NPLs to Goldman Sachs subsidiary, private equity

In what is becoming a frequent occurrence, Fannie Mae announced Tuesday that it sold a large portfolio of non-performing loans to a collection of private equity funds and a subsidiary of Goldman Sachs.

The government-sponsored enterprise said Tuesday that it sold off $1.06 billion in non-performing loans from its portfolio, with some now-familiar names making up the buyer pool.

Among the buyers is MTGLQ Investors, a “significant subsidiary” of Goldman Sachs.  According to the Securities and Exchange Commission, Goldman Sachs owns, directly or indirectly, at least 99% of the voting securities of MTGLQ Investors, L.P.

This latest purchase is MTGLQ Investors’ fifth purchase of NPLs from one of the GSEs this year alone.

Over the course of this year, in various sales, MTGLQ Investors bought more than $2.3 billion in unpaid principal balance from the GSEs.

Read on.

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