VRMTG ACQ (VWH Capital Management, LP), a minority woman owned business, is the winning bidder on a pool of 667 non-performing loans (NPLs) with unpaid principal balance (UPB) totaling $129.23 million recently auctioned by Fannie Mae.
The pool of loans, which is geographically focused in New Jersey, New York, Maryland, Illinois and Florida, has an average loan size of $193,753; a weighted average note rate of 4.35%; a weighted average delinquency rate of 30 months; and a weighted average broker’s price opinion loan-to-value ratio of 99%, Fannie Mae says in a release.
The cover bid, which is the second highest bid, was 71.16% of UPB (54.48% of broker’s price opinion).
The transaction was completed in collaboration with Bank of America Merrill Lynch and The Williams Capital Group, LP.
Fannie Mae began marketing the loans to potential bidders on May 15.
This was Fannie Mae’s 13th Community Impact Pool of NPLs to date.
