Federal regulators are seeking input on new options for selling foreclosure properties owned by the government sponsored enterprises and the Federal Housing Administration (FHA).
In a joint press release issued Wednesday, the Federal Housing Finance Agency (FHFA), Treasury Department and Department of Housing and Urban Development, announced a request for information to help unload current and future foreclosures owned by Fannie Mae, Freddie Mac and the FHA.
"Exploring new options for selling these foreclosed properties will help expand access to affordable rental housing, promote private investment in local housing markets and support neighborhood and home price stability," Treasury Secretary Timothy Geithner said in the release.
The agencies are looking for proposals that would possibly pool properties for sale; reduce average loan losses to the GSE's and FHA; address property repair needs; and respond to economic conditions in specific geographic areas. They're also seeking strategies that may include programs for previous homeowners to rent properties, or for current renters to become owners.
The deadline for responses is Sept. 1