FHFA Announces First Winning Bidder in REO Pilot Initiative

by 10 Sep 2012

Washington, DC – The Federal Housing Finance Agency (FHFA) today announced that Pacifica Companies, LLC has purchased 699 Fannie Mae properties in Florida as part of a real estate owned (REO) pilot initiative.

FHFA will announce the winning investors for properties in other areas upon closing of the transactions in the coming weeks. Properties in Atlanta (541) were not awarded. Those properties will be evaluated for disposition through Fannie Mae’s retail sales operation or through future structured transactions. All properties were sold near or above market value.

Click here for additional details about the transaction.