Winning bids have been announced for a pool of more than $1 billion in government-sponsored enterprise residential loans that are not performing.

In February, 6,090 non-performing Fannie Mae mortgages with an aggregate unpaid principal balance of $1.074 billion were offered for sale.

The portfolio included three larger pools and one small pool. Bids were accepted on the three larger pools through March 6, while bids are still being taken on the smaller pool.

Source: Mortgage Daily