10/10/2024 | Press release | Distributed by Public on 10/10/2024 08:00
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WASHINGTON, DC - Fannie Mae (FNMA/OTCQB) today announced the results of its twenty-fifth non-performing loan sale transaction. The deal, announced on September 10, 2024, included the sale of 1,675 deeply delinquent loans totaling $280.0 million in unpaid principal balance (UPB), offered in one pool. The winning bidder of the pool for the transaction was VRMTG ACQ, LLC (VWH Capital Management, LP). VWH Capital Management, LP is a Minority and Women-Owned Business ("MWOB"). The transaction is expected to close on November 22, 2024. The pool was marketed with BofA Securities, Inc. and First Financial Network, Inc. as advisors.
The loan pool awarded in this most recent transaction includes:
The cover bid, which is the second highest bid for the pool, was 101.29% of UPB (41.35% of BPO).
Bids are due on Fannie Mae's Community Impact Pool on October 17, 2024.
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.
Interested bidders can register for ongoing announcements, training, and other information here. Fannie Mae will also post information about specific pools available for purchase on that page.