Fannie Mae Announces Winners of its Latest Non-Performing Loan Sale
Fannie Mae sold a $203 million pool of non-performing loans with strict borrower-protection and loss-mitigation requirements for the buyer.
Rhea-AI Summary
Fannie Mae (FNMA) reported the results of its twenty-eighth non-performing loan sale, involving 919 loans with $203,303,314 in unpaid principal balance offered as a single pool.
The winning bidder was Residential Credit Opportunities Trust IX-D, and closing is expected by November 4, 2026, with BofA Securities acting as advisor. The pool has an average loan size of $221,222, a weighted average note rate of 4.31%, and a weighted average BPO loan-to-value ratio of 48%. The cover bid was 100.375% of UPB, equal to 48.56% of BPO. Purchasers must honor existing loss mitigation efforts and offer a waterfall of options, including potential principal forgiveness, before foreclosure except on vacant or condemned properties.
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AI-generated analysis. How Rhea-AI works. Not financial advice.
- The pool awarded in this most recent transaction includes 919 loans with an aggregate UPB of
$203,303,314 $221,222 4.31% ; and weighted average broker's price opinion (BPO) loan-to-value ratio of48% .
The cover bid, which is the second highest bid for the pool, was
All purchasers are required to honor any approved or in-process loss mitigation efforts at the time of sale, including 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, not secured by property which is vacant or condemned at the time of closing. In the event a foreclosure cannot be prevented, the owner of the loan must market the property to owner-occupants and non-profits first, similar to Fannie Mae's FirstLook® program.
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.
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SOURCE Fannie Mae
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What borrower protections are required from purchasers of the non-performing loans?
Purchasers must honor any approved or in-process loss mitigation efforts, including loan modifications, at the time of sale. They are also required to offer delinquent borrowers a waterfall of loss mitigation options, including loan modifications that may include principal forgiveness, before starting foreclosure on any loan that is not secured by property vacant or condemned at closing. If foreclosure cannot be prevented, the loan owner must first market the property to owner-occupants and non-profits, similar to Fannie Mae's FirstLook® program.
How can interested bidders participate in future Fannie Mae non-performing loan sales?
Interested bidders can register online for ongoing announcements, training, and other information through the page indicated by Fannie Mae. The company will also post information about specific pools available for purchase on that page.
What were the key bidding metrics for this non-performing loan pool?
The pool included 919 loans with aggregate unpaid principal balance of $203,303,314, an average loan size of $221,222, a weighted average note rate of 4.31%, and a weighted average BPO loan-to-value ratio of 48%. The cover bid, or second highest bid, was 100.375% of UPB, equal to 48.56% of BPO.