Fannie Mae has announced the sale of 1,077 non-performing loans totaling $193 million, won by Residential Credit Opportunities IX, LLC and VRMTG ACQ, LLC, with transactions expected to close on July 8, 2025.

Target Information

Fannie Mae (FNMA/OTCQB), a government-sponsored enterprise, has recently announced the results of its twenty-sixth non-performing loan sale transaction. This significant deal, made public on April 22, 2025, comprises the sale of 1,077 severely delinquent loans, amounting to a total unpaid principal balance (UPB) of $193 million. The loans are divided into two separate pools, with different bidders successfully securing each.

The first pool, designated as Pool 1, includes 335 loans totaling an aggregate UPB of $60,434,423, with an average loan size of $180,401 and a weighted average note rate of 4.37%. Conversely, Pool 2 consists of 742 loans with a combined UPB of $132,756,831, averaging $178,912 per loan and a slightly higher note rate of 4.42%. Both pools exhibit a weighted average broker's price opinion (BPO) loan-to-value ratio of 41%, indicating a strategic opportunity for investors.

Industry Overview

The non-performing loan (NPL) market in the United States, particularly in the metrics of distressed assets and mortgage-backed securities, continues to evolve significantly. Recent economic trends and interest rate fluctuations have placed numerous borrowers at risk of