White House officials are looking for private partners to remove as much as $30 billion in single-family properties currently on the books of Fannie, Freddie, and the Federal Housing Administration.
Among possible investors, officials said they were looking for private-equity funds, financial institutions, and perhaps local governments and nonprofits to buy foreclosed properties and offer them as rentals in stressed housing markets.
Another approach would allow investors to partner with Fannie and Freddie in a joint venture to buy a pool of converted rental homes, with an equitable split between the government entities and investors to reduce losses at the mortgage giants.
Such partnerships with private-sector investors "may reduce taxpayer losses" said Edward DeMarco, acting director of the Federal Housing Finance Agency.
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