Tag Archives: Calif. Lawmakers Try to Stop REO Bulk-Sales Program

California lawmakers have introduced a bill that sets out to stop a an “REO to rental” pilot program in the state that would allow bulk sales of Fannie Mae’s bank-owned properties to investors. Rep. Gary Miller, a Republican who represents California’s 42nd Congressional District, introduced H.R. 5823, “Saving Taxpayers from Unnecessary GSE Bulk Sale Program Act of 2012,” along with seven co-sponsors to the bill. The bill’s introduction was applauded by the California Association of REALTORS®, who has spoken out against an REO bulk-sales program in the state. “We are […]