Fannie Mae Announces Winner of its Latest Non-Performing Loan Sale
The loan pool awarded in this most recent transaction includes:
- Pool 1: 1,154 loans with an aggregate UPB of
$214,235,825 ; average loan size of$185,646 ; weighted average note rate of 4.22%; and weighted average broker's price opinion (BPO) loan-to-value ratio of 44%.
The cover bid, which is the second highest bid for the pool, was 98.28% of UPB (43.03% of BPO).
Bids are due on
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.
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