Mortgage And Real Estate News

Saturday, October 20, 2012

Details on Fannie Mae's bulk REO sale in Phoenix remain elusive

Who bought Fannie Mae’s bulk portfolio of foreclosure homes in metro Phoenix has been a controversial secret since summer.
In late July, almost 300 foreclosure houses across metro Phoenix were purchased in a very quiet $34million cash deal. The buyer was a limited partnership called SFR 2012-1 US West based in Pasadena, Calif. Further investigation found the partnership was created by the seller, Fannie Mae. No public information was provided by Fannie Mae about the mystery deal.



Read more: Details on Fannie Mae's bulk REO sale in Phoenix remain elusive

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