Freddie Mac has agreed to acquire Cendant Asset Services, a subsidiary of Cendant Mobility Services that specializes in management and sale of real estate owned.The Dallas-based Cendant provides REO services to lenders and servicers nationwide. It will become part of Freddie Mac's HomeSteps real estate sales unit, also based in Dallas. The combined unit will be called HomeSteps Asset Services and will market and sell an estimated 25,000 REO properties a year. Freddie Mac said the company will benefit from improved economies of scale, reducing the cost of marketing and selling REO. Freddie Mac's website address is http://www.freddiemac.com.
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