Fannie Mae Announces Winner of its Latest Non-Performing Loan Sale
Fannie Mae announced the winner of its twenty-fourth non-performing loan sale, totaling $214.2 million in UPB. The winning bidder was VWH Capital Management, LP. The transaction is expected to close on June 25, 2024. The deal included 1,154 deeply delinquent loans with an average loan size of $185,646 and a weighted average note rate of 4.22%. Bids for Fannie Mae's Community Impact Pool are due on May 16, 2024.
- None.
- None.
The loan pool awarded in this most recent transaction includes:
- Pool 1: 1,154 loans with an aggregate UPB of
; average loan size of$214,235,825 ; weighted average note rate of$185,646 4.22% ; and weighted average broker's price opinion (BPO) loan-to-value ratio of44% .
The cover bid, which is the second highest bid for the pool, was
Bids are due on Fannie Mae's Community Impact Pool on May 16, 2024.
All purchasers are required to honor any approved or in-process loss mitigation efforts at the time of sale, including forbearance arrangements and loan modifications. In addition, purchasers must offer delinquent borrowers a waterfall of loss mitigation options, including loan modifications, which may include principal forgiveness, prior to initiating foreclosure on any loan.
Interested bidders can register for ongoing announcements, training, and other information here. Fannie Mae will also post information about specific pools available for purchase on that page.
About Fannie Mae
Fannie Mae advances equitable and sustainable access to homeownership and quality, affordable rental housing for millions of people across America. We enable the 30-year fixed-rate mortgage and drive responsible innovation to make homebuying and renting easier, fairer, and more accessible. To learn more, visit:
fanniemae.com | Twitter | Facebook | LinkedIn | Instagram | YouTube | Blog
Fannie Mae Newsroom
https://www.fanniemae.com/news
Photo of Fannie Mae
https://www.fanniemae.com/resources/img/about-fm/fm-building.tif
Fannie Mae Resource Center
1-800-2FANNIE
View original content to download multimedia:https://www.prnewswire.com/news-releases/fannie-mae-announces-winner-of-its-latest-non-performing-loan-sale-302141196.html
SOURCE Fannie Mae
FAQ
When was the twenty-fourth non-performing loan sale announced by Fannie Mae?
Who was the winning bidder of Fannie Mae's recent non-performing loan sale?
What is the expected closing date for the transaction?
How many loans were included in the pool for the recent transaction?