New HUD site displays several agencies’ foreclosures

The U.S. Department of Housing and Urban Development has introduced a new mapping tool that helps consumers locate many of the foreclosed properties in the U.S.

The REO Portal indentifies real-estate owned (REO) properties from Fannie Mae, Freddie Mac and FHA in targeted geographies.

The goal of the site is more efficient disposition of REO properties to support the stabilization of neighborhoods and recovery of local housing markets.

HUD, the Department of the Treasury, and Fannie and Freddie’s regulator – the Federal Housing Finance Agency – also announced they are asking for input on ways of doing bulk sales to investors and converting REOs into rental properties.