In a article published by The Arizona Republic on July 27, 2012 @ 4:30 pm written by Catherine Reagor it's alleging that Fannie Mae is purchasing their own REOs through a LLC that Fannie created. To read the article yourself, follow this link, http://www.azcentral.com/business/realestate/articles/20120727mystery-buyer-snaps-up-foreclosure-homes.html
I reached out to the REOPro community to verify this article and it's accuracy and I recevied some interesting information. From a confidential informant, I got a copy of the Arizona Corporation Commission vi State of Arizona Public Acess System...see below...
File Number: R-1776305-1
Check Corporate Status
Corp. Name: SFR 2012-1 U.S. WEST LLC
Domestic Address
2338 W ROYAL PALM RD STE J
PHOENIX, AZ 85021
Foreign Address
2711 CENTERVILLE RD #400
WILMINGTON, DE 19808
Statutory Agent Information
Agent Name:
CORPORATION SERVICE COMPANY
Agent Mailing/Physical Address:
2338 W ROYAL PALM RD STE J
PHOENIX, AZ 85021
Agent Status:
APPOINTED 07/18/2012
Agent Last Updated:
07/23/2012
Additional Corporate Information
Corporation Type:
FOREIGN L.L.C. Business Type:
Incorporation Date:
07/18/2012 Corporate Life Period:
Domicile:
DELAWARE County: MARICOPA
Approval Date:
07/23/2012 Original Publish Date:
Manager/Member Information
FANNIE MAE
MEMBER
3900 WISCONSIN AVE NW
MAIL STOP 11H-734
WASHINGTON,DC 20016
Date of Taking Office:
07/18/2012
Last Updated:
07/23/2012
DELAWARE County: MARICOPA
Approval Date:
07/23/2012 Original Publish Date:
Manager/Member Information
FANNIE MAE
MEMBER
Of course, we all will have our own opinoins on if this is a good or bad idea but, I got an even more intersesting article sent to me that said, "
The address that Fannie Mae used in "creating" this LLC is in the same building as East West Bank, a subsidiary of East West Bancorp, which is a Chinese-owned bank. Yes, this is the same East West Bank that received $306.5 Million in TARP money. So, not only were buyers in our market robbed of the opportunity to purchase 275 homes, but it appears that they were sold to a Chinese Bank. Thus, the reason they are trying to hide it from the American people."
Now, once again, I can't verify any of this but, if anyone can independently verify this information I would greatly apreciative.
Comments
So, no so sure it's a conspiracy theory or not....maybe its just some good ole speculation but, this was sent in to me earlier today....
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Fannie Mae Western REGL Office
Fannie Mae Western REGL Office
135 N Los Robles Ave, Ste 300
Pasadena , CA , 91101 USA
34.14835, -118.141615
626- 396-5100
Fannie Mae Western REGL Office
Not Rated
135 N Los Robles Ave, Ste 300, Pasadena, CA 91101
http://www.efanniemae.com
(626) 396-5100 Additional Contacts
(626) 396-5131 Fax
With inventory at historically low levels this seems completely wrong. If it were an American company who got to do this it would not be ok. There are hundreds of both buyers and investors who would want those homes. If it is a foreign company then it is beyond not ok. Our real estate market will be saved by this country and not by a foreign country.