Fannie Mae purchased 61,929 foreclosed homes in the first quarter and is on track to far surpass last year's REO acquisitions of 145,617. Based on the 'run rate' of the first quarter, the government controlled mortgage giant could wind up taking title to almost 250,000 homes this year, according to an analysis done by National Mortgage News. In 2008 and 2007 the GSE purchased 94,652 and 49,121 REOs respectively, according to supplemental financial information released Monday. The company's policy is to sell the foreclosed homes to consumers but it also uses the bulk sale market which caters to investors.
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