Fannie Mae sold 62,814 foreclosed properties in the first quarter, a 65% jump in activity from the same period a year earlier, according to new figures released by the company.
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In the quarter it took control of 53,549 real estate owned units, a 15% year-over-year drop. Fannie prefers to sell its REO holdings to owner/occupants, but sometimes it uses bulk sales to investors to clear less-desirable units.
Fannie also confirmed that a vice president in its REO department, Tiffany Davis-Fletcher, in Dallas, resigned this week. She joined Fannie in 1997 and held director and sales manager positions.
