VWH Capital Management, a minority- and women-owned business, is the winning bidder on a pool of 1,154 deeply delinquent loans totaling $214.2 million in unpaid principal balance (UPB) recently auctioned by Fannie Mae.
The single pool had an average loan size of $185,646; a weighted average note rate of 4.22%; and a weighted average broker’s price opinion (BPO) loan-to-value ratio of 44%.
The cover bid, which is the second highest bid for the pool, was 98.28% of UPB (43.03% of BPO).
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.
Photo: Eskay Lim
