A winning bidder has been announced for an offering of more than $2 billion in reperforming government-sponsored enterprise mortgages.

The offering, originally announced in August, was for nearly 11,000 Fannie Mae single-family loans with an aggregate unpaid principal balance of $2.5 billion.

Although the mortgages had previously been delinquent, they are now performing again as a result of the borrowers bringing the payments current or modifications.

Source: Mortgage Daily