Fannie Mae will offer up nearly 2500 distressed properties in eight locations to investors who are willing to buy them in bulk and rent them out for a set number of years.
The initiative is "...designed to reduce taxpayer losses, stabilize neighborhoods and home values, shift to more private management of properties, and reduce the supply of REO properties in the marketplace," said Edward J. DeMarco, the acting director of the Federal Housing Finance Agency (FHFA), which oversees Fannie Mae
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