VWH Capital Management, a minority and women-owned business, is the winning bidder on a pool of non-performing mortgage loans recently auctioned by Fannie Mae.
This was Fannie Mae’s 25th non-performing loan sale transaction.
The deal, announced on September 10, included the sale of 1,675 deeply delinquent loans totaling $280.0 million in unpaid principal balance (UPB), offered in one pool.
The average loan size was $167,172; the weighted average note rate was 3.88%; and the weighted average broker’s price opinion (BPO) loan-to-value ratio was 41%.
VWH Capital Management is a minority and women-owned business.
The transaction is expected to close on November 22. The pool was marketed with BofA Securities, Inc. and First Financial Network, Inc. as advisors.
The cover bid, which is the second highest bid for the pool, was 101.29% of UPB (41.35% of BPO).
Photo: Eskay Lim
