Portal displays Fannie, Freddie, FHA REOs

Agencies exploring bulk sales, rental conversions of foreclosed properties

The U.S. Department of Housing and Urban Development has unveiled a Web-based mapping tool displaying the location of all foreclosed properties held by Fannie Mae, Freddie Mac and the Federal Housing Administration (FHA) — nearly half of all "real estate owned" (REO) properties in the U.S.

HUD’s REO Portal is intended to help local communities, homebuyers and investors acquire properties and accelerate efforts to stabilize local housing markets, HUD said.

Also this week, HUD, the Department of the Treasury, and Fannie and Freddie’s regulator, the Federal Housing Finance Agency, said they are exploring options for doing bulk sales to investors and converting Fannie, Freddie and FHA REOs in some markets into rental properties.