NoteExpo Podcast Series – NPL & REO Acquisitions, Fuquan Bilal - CEO NNG Capital
NoteExpo, November 2nd and 3rd, Dallas Tx. - www.noteexpo.com
Today, Fannie Mae announced the winning bidder for its fourteenth Community Impact Pool of non-performing loans. The transaction is expected to close on December 18, 2018 and includes approximately 66 loans totaling $22.9 million in unpaid principal balance; the loans are geographically focused in the New York City area.
The winning bidder was VWH Capital Management, a minority woman owned business. The cover bid, which is the second highest bid, for the Community Impact Pool was 90.0% of UPB or 48% of the home value.
Joining the podcast today to discuss the acquisition of NPLs and REO is Fuquan Bilal, CEO of NNG Capital Fund. Fuquan heads up a multi-million-dollar alternative investment fund that Primarily invest in Real Estate Notes and REO's