Click the agency logo for the corresponding Flathead properties.
The Federal National Mortgage Association, also known as Fannie Mae, is the government sponsored enterprise (GSE) responsible for maintaining the nation's largest portfolio of REO assets. Initially chartered as a private enterprise, Fannie Mae was placed into government conservatorship in 2008.
The Federal Home Loan Mortgage Corporation, more commonly known as Freddie Mac, is the other GSE that was placed into conservatorship in the aftermath of the housing bubble. Currently, Freddie Mac and Fannie Mae own or guarantee roughly 60% all residential mortgage loans.
The U.S. Department of Housing and Urban Development manages its REO portfolio through the website HudHomeStore.com. With various federal housing agencies acting as guarantor, HUD has accumulated a sizable REO portfolio.
The Department of Veterans Affairs acquires REO assets through the foreclosure of homes guaranteed with VA loans. While the number of VA REO assets remains relatively small, plenty of good deals can be found through the easy-to-use Equator web interface.
The United States Department of Agriculture forecloses on a number of homes guaranteed through the various Rural Development loan programs. While you're not going to find many of these REOs in large, metropolitan areas, the USDA has accumulated a number of REO properties in rural areas throughout the country.