First Winning Investor Named In FHFA REO Pilot Initiative

Posted by Orb Staff on September 11, 2012 No Comments
Categories : Mortgage Servicing

12362_fhfa-02595023 First Winning Investor Named In FHFA REO Pilot Initiative The Federal Housing Finance Agency (FHFA) has announced the first winning investor in its real estate owned (REO) pilot initiative: San Diego-based Pacifica Companies LLC has purchased 699 Fannie Mae properties in Florida as part of the initiative.

The FHFA will announce the winning investors for properties in other areas upon closing of the transactions in the coming weeks. However, the agency adds that 541 properties in Atlanta were not awarded and will be evaluated for disposition through Fannie Mae's retail sales operation or through future structured transactions.

All properties in the REO pilot initiative are being sold near or above market value, the FHFA says.

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