Fannie Mae-Owned (REO) Property Search
Fannie Mae (FNMA) is a GSE (Government Sponsored Entity) that specializes in purchasing and securitization of mortgage loans. Fannie Mae originates conforming loans that have better credit quality and underwriting standards. The sub-prime mortgage crisis and its ugly offspring, foreclosures, have contributed to a significant increase in the number of REOs at major lenders including Fannie Mae.
Investors can regularly follow the Fannie Mae REO listings and find great bargains on residential properties. The search on the site is very straightforward and easy to use.
Ocwen REO Residential & Commercial Properties
Ocwen Loan Servicing, LLC is one of the biggest loan servicers in USA. They act as a BPO for major lenders expecially for their REOs. Due to this reason, their website is a good place to look for REOs with decent equity. Ocwen has their REO listings separated into residential, commercial, and VA (Veterans Affairs). Check out: Ocwen Residential & Commercial REO Listings.