Fannie Mae sold 62,814 REO properties in the first quarter, a 65% jump in activity from the same period a year ago, according to new figures released by the firm.
Processing Content
In 1Q it took control of 53,549 REO units, a 15% drop from the year ago quarter.
Fannie prefers to sell its REO holdings to owner/occupants, but on occasion uses bulk sales to investors to clear less desirable units.
Meanwhile, Fannie confirmed that a vice president in its REO department, Tiffany Davis-Fletcher, resigned from the company this week. No reason was given for her departure. Based in Dallas, she joined Fannie in 1997 and held director and sales manager positions.
