Dan Magder, a director of acquisitions for Lone Star Funds, has quit the investment firm to focus on what he calls a "REO-to-rental investment opportunity."
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In an email to National Mortgage News, Magder said the Fannie Mae/Freddie bulk REO sales program is a "once-in-a-lifetime chance to leverage my skills and expertise."
As a director, he was one of a number of senior executives that worked in that area for the company.
He joined Lone Star in 2009 as director of U.S. investments, working in the firm's Washington, DC office.
Fannie Mae is currently in the market with a large bulk REO offering where the winning investor must promise to rent out the homes instead of flipping them.
