FHFA launches pilot REO property sales

FHFA launched the pilot program in late February. It solicited bids in the second quarter for the purchase of approximately 2,500 single-family foreclosed properties held by Fannie Mae. Fannie Mae offered for sale pools of properties in geographically concentrated locations across the United States.

FHFA wrapping up REO-to-rental program bidder reviews fhfa launches pilot reo property sales Jacob Gaffney is formerly Editor-in-Chief of HousingWire and HousingWire.com.

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Short Sale Soundoff: FHFA announces next steps in REO Pilot Program July 5th, 2012 by mick@sfresidence.com The FHFA announced yesterday that the winning bidders in a REO pilot initiative have been chosen and transactions are expected to close early in the third quarter.

Which brings us to the proposed FHFA REO rental/sales program. As a side note, about 85% of the properties in the pilot REO sale by the GSEs already have tenants – that would certainly help its.

On July 3, FHFA announced the selection of the winning bidders in its real estate owned (REO) pilot program, with the initial transactions expected to close in the third quarter of 2012. FHFA launched its REO pilot program in February 2012 and bids from qualified investors were sought during the second quarter of the year for roughly 2,500 single-family foreclosed properties

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

WASHINGTON (MarketWatch) – California Attorney-General Kamala Harris on Monday said she asked a major U.S. housing regulator to halt foreclosure sales. properties into rehabilitated rental units.

I’m talking about the federal housing finance agency’s (FHFA) ‘REO Initiative’ pilot program destined for implementation in Los Angeles and Riverside Counties. What the program proposes to do is effect a ‘bulk sale’ of REO (bank-owned) properties in select areas in order to ‘remove this overburden of inventory’ from the housing.

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.

REO Could Become A Serious Problem For HUD/GSEs. If the property is cleared for sale it is listed for 180 days and if. FHFA directed Fannie Mae to launch a pilot REO disposition program and.