A former Goldman Sachs exec founded the winning bidder
Investment adviser VWH Capital Management, through VRMTG ACQ, was the winning bidder for approximately $34.3 million in unpaid principal balance of non-performing loans auctioned by Fannie Mae.
Fannie Mae sold its eleventh and twelfth Community Impact Pools of non-performing loans, which include approximately 182 loans divided between two pools focused in the Orlando and Tampa areas of Florida.
Fannie Mae said the winning bidder is a minority woman-owned business. According to its website, VWH Capital Management was founded by Vivien Huang, who was a managing director at Goldman Sachs and then at JPMorgan Chase.
The first pool covers 89 loans with an aggregate unpaid principal balance of about $18.1 million. The loans have an average size of $203,811 and weighted average delinquency of 29 months. The other pool comprises 93 loans with an aggregate unpaid principal balance of approximately $16.1 million. The average loan size is $173,249, and the weighted average delinquency is 42 months.
Fannie Mae said it expects the transaction to close on May 22.
