On October 2, the FHFA announced that The Cogsville Group, LLC purchased 94 Fannie Mae properties in Chicago as part of the REO pilot initiative. Fannie Mae will continue to offer pools of properties in U.S. markets that have a strong demand for rental housing and substantial supply of REO housing. Investors may prequalify for future sales. FHFA Release.
REO pilot initiative
First Winning Bidder Announced for FHFA REO Pilot Initiative
On September 10, the FHFA announced that Pacifica Companies, LLC has purchased 699 Fannie Mae properties in Florida as part of the REO pilot initiative. The FHFA will announce the winning investors for properties in other areas upon closing of the transactions in the coming weeks. FHFA Release.