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FHFA launches pilot REO property sales

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FHFA launched the pilot program in late February, and in the second quarter bids were solicited from qualified investors to purchase approximately 2,500 single-family Fannie mae foreclosed properties. fannie mae offered for sale pools of properties in geographically concentrated locations across the United States.

After collecting feedback and under pressure from lawmakers to move forward with the program, FHFA in February announced the launch of a pilot initiative targeting bulk REO sales in metropolitan.

The regulator said it will announce the first transaction during a pilot phase of the so-called REO initiative in the “near term.” Fannie Mae will offer for sale. properties to maximize value and.

The pilot bidding program for the FHFA’s REO conversion program has been extended by a month, possibly because of high demand. According to a HousingWire article on the program, investors will now have until May to bid on the 2,490 foreclosed homes that Fannie Mae is offering for sale in Atlanta, Chicago, Las Vegas, Los Angeles, Phoenix and parts of Florida.

From the fhfa: fhfa announces pilot reo Property Sales in Hardest-Hit Areas The Federal Housing Finance Agency (FHFA) today announced the first pilot transaction under the Real Estate-Owned (REO) Initiative, targeted to hardest-hit metropolitan areas – Atlanta, Chicago, Las Vegas, Los Angeles, Phoenix and parts of Florida.

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The Federal Housing Finance Agency (FHFA) has announced that investors interested in its Real-Estate Owned (REO) Initiative may "pre-qualify" to establish eligibility to bid on transactions in the initial pilot phase as well as subsequent phases.. This is a first step toward implementing the initiative, which was announced in August 2011.

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FHFA launches pilot REO property sales wilfred contents single- family rental business Housing finance agency (fhfa 300 million mortgage foreclosed properties. fannie mae offered Diego-based pacifica companies.

FHFA Announces Next Steps in REO Pilot Program. that the winning bidders in a real estate owned (REO) pilot initiative have been chosen and transactions are expected to close early in the third.

FHFA Announces Pilot REO Property Sales in Hardest-Hit Areas Next Step for Investors Interested in Fannie Mae Foreclosed Properties FOR IMMEDIATE RELEASE

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