Carwin Advisors proposes national strategy to the Federal Housing Finance Agency (FHFA) for enhanced REO asset disposition programs.
DALLAS, TX (SEPTEMBER 15, 2011) Carwin Advisors and its parent company, Winchester Carlisle, submitted a proposal to the Federal Housing Finance Agency (FHFA) that makes recommendations to augment and enhance Real Estate-Owned (REO) asset disposition programs. The proposed solution will facilitate the current and future disposition programs of Fannie Mae, Freddie Mac and the Federal Housing Administration (FHA). The proposed solution will also improve loss recoveries compared to individual retail REO sales, help stabilize neighborhoods and local home values, and where feasible and appropriate, improve the supply of rental housing.
In its broadest terms the proposal is a managed auction process involving the following key components:
- Structured auctions of geographically pooled assets
- Enterprise (Fannie and Freddie) / FHA “recapture” of extraordinary gain on asset sales to limit the propensity to buy and flip
- Enterprise/FHA profit sharing on rental properties above threshold returns to the purchaser
- Appointment of regional third party “Administrators” to qualify bidders, mange auctions, inspect purchased properties, monitor performance, ensure purchaser compliance, and enforce program rules
Please download the complete proposal here.
ABOUT CARWIN ADVISORS
Carwin Advisors, a Winchester Carlisle Company, is a national full-service real estate advisory firm specializing in solving complex problems and working with multiple stakeholders in the restructuring, turnaround, management and disposition of residential, commercial, and mixed-use real estate assets, portfolios, and companies.