Tag Archives: CAR

Bad News from the Federal Housing Finance Administration

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Here is an important update regarding the Federal Housing Finance Administration’s (FHFA) REO “bulk sales” pilot initiative. Despite vehement opposition from C.A.R. and California Congressional members, the negative economic impact to the state’s housing market, and cost to taxpayers, FHFA is moving ahead with its REO bulk sales initiative, which calls for the sale of

REO Bulk Sales Program is Unnecessary & Harmful in California

Barry & Brenda Zwahlen | http://yourdanvilleag.wpengine.com

California lawmakers have introduced a bill that sets out to stop an “REO to rental” pilot program in the state that would allow bulk sales of Fannie Mae’s bank-owned properties to investors. Rep. Gary Miller, a Republican who represents California’s 42nd Congressional District, introduced H.R. 5823, “Saving Taxpayers from Unnecessary GSE Bulk Sale Program Act