Fannie Mae has announced that it will make available 1,500 single-family properties from its inventory of real estate owned to provide temporary housing for individuals and families displaced by Hurricane Katrina.The government-sponsored enterprise said it will provide the REO properties for rent-free leasing for up to 18 months. The properties are located in states with the highest concentration of evacuees, including Alabama, Arkansas, Florida, Georgia, Louisiana, Mississippi, Oklahoma, Tennessee, and Texas. Fannie Mae said it will discuss how best to carry out the initiative with the Department of Housing and Urban Development and the Federal Emergency Management Agency. The GSE can be found online at http://www.fanniemae.com.

Subscribe Now

Authoritative analysis and perspective for every segment of the mortgage industry

30-Day Free Trial

Authoritative analysis and perspective for every segment of the mortgage industry