Fannie Mae Auctions Another Pool of Nonperforming Loans

VRMTG ACQ (VWH Capital Management LP), a minority woman owned business, is the winning bidder on a pool of nonperforming loans (NPLs) recently auctioned by Fannie Mae.

Fannie Mae’s 14th Community Impact Pool includes 66 loans totaling $22.9 million in unpaid principal balance (UPB). The average loan size is $347,683; the weighted average note rate is 5.46%; the weighted average delinquency is 66 months; and the weighted average broker’s price opinion loan-to-value ratio was 63%, weighted by UPB.

The deal, done in collaboration with Bank of America Merrill Lynch and First Financial Network Inc., is expected to close in December.

The cover bid, which is the second highest bid, was 90.0% of UPB (48.41% of broker’s price opinion).

VRMTG as also the winning bidder on a pool of NPLs auctioned by Fannie Mae in June.

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