Obama administration expects new push for REO rentals

By Mike Colpitts. Under a proposal the Obama administration is making, the U.S. federal government would become the nation’s biggest landlord by renting out almost 250,000 foreclosed homes Freddie Mac, Fannie Mae and the Federal Housing Administration currently own.

The new real estate boom: rentals | Inman News . Downsizing, the hallmark of Gen X/Y? Interesting article about that and rentals..

Obama administration pushes for more accessible home loans – Obama pledged in his State of the Union address to do more to make sure more Americans can enjoy the benefits of the housing recovery, but critics say encouraging banks to lend as broadly as the.

FDIC Calls for Consideration of Junior Liens FDIC Federal Deposit Insurance Corporation 550 17th street nw, Washington, D.C. 20429-9990 . Financial Institution Letters FIL-4-2012 January 31, 2012 Allowance for Loan and Lease Losses Estimation Practices for Junior Liens on Residential Properties Summary:

The Obama Administration, in conjunction with federal regulators and led by the overseer of Fannie Mae and Freddie Mac, are very close to announcing a pilot program to sell government-owned foreclosures in bulk to investors as rentals, according to administration officials.. There are currently about a quarter of a million foreclosed properties on the books of Fannie Mae, Freddie Mac and the.

We’re continuing to have new storage product come online at a faster than our ability to rent up rooms. With what we have in. And under legislation passed during the Obama administration, we’re.

Florida foreclosures top the charts for seventh consecutive month CMA and ACM Award-winning musician Luke Combs’ 2x Platinum single, Beautiful Crazy, remains #1 on Billboard’s Country Airplay chart for the seventh-straight week tyingthe second longest run atop.

Former Obama administration White House counsel Greg Craig expects to be charged in a foreign lobbying investigation spun off from special counsel Robert Mueller’s Russia probe, his lawyers said.

White House Should Require Nonprofit Participation in Bulk. – The Obama Administration and the banking sector have been contemplating bulk sales of REO properties. For the most part, the private-sector real-estate industry favors individual cash sales to the highest bidder. This would move REO properties into the hands of entities that have the capital to improve them and then sell or rent them out.

If they make it a condition of sale that the investors have to rent the REOs they purchase, and can’t sell them, then this idea won’t have much impact on the resale market.. While the Obama administration may be pondering the idea of helping underwater homeowners through principal write.

EDISON – With a popular sandwich shop in Edison as the backdrop, President Obama comes to New Jersey Wednesday afternoon to push for passage of a bill designed to stimulate small businesses.

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