Matawin Ventures XXIX (Tourmalet Advisors) is the winning bidder on a pool of nonperforming mortgage loans (NPLs) recently auctioned by Fannie Mae.
The company’s 16th Community Impact Pool of NPLs includes approximately 83 loans totaling $19.1 million in unpaid principal balance (UPB).
The loans are geographically focused in the Miami, Fla., area, Fannie Mae says in a release.
The average loan size is $229,933; the weighted average note rate is 4.18%; the weighted average delinquency rate is 29 months; and the weighted average broker price opinion loan-to-value ratio is 87%.
The cover bid, which is the second highest bid, was 81.6% of UPB (57.6% of broker’s price opinion).
Bank of America Merrill Lynch and First Financial Network Inc. collaborated with Fannie Mae on the marketing of the pool.