FHFA Puts Finishes Touches on REO-to-Rental Program

The Federal Housing Finance Agency (FHFA) is putting the final finishing touches on its closely watched REO conversion program, according to FHFA official Meg Burns.
A plan to sell distressed Fannie Mae properties to investors, who will then rent the units out at affordable rates, the program has been one of the most closely watched housing policies of the Obama administration, and has been met with such overwhelming demand that the FHFA had to extend the program’s deadline. The agency fielded bids for properties in Atlanta, Chicago, Las Vegas, Los Angeles, ...

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