Bidders for Fannie Mae REO Pilot Program Selected by FHFA

By Liz Clinger Updated on 7/3/2012

The FHFA created a pilot program to help stabilize communities and home values in areas that were hit hardest by foreclosures by creating rentals out of the foreclosures rather than letting them sit empty. This initiative began after over 4,000 responses on how to sell the distressed properties of the FHA, Fannie and Freddie.

The winning bidders on the program have been selected by the FHFA to participate, and we are promised to have them soon revealed, when the deals close early in the 3rd quarter.