The Federal Housing Finance Agency (FHFA), in consultation with the U.S. Department of the Treasury and the U.S. Department of Housing and Urban Development (HUD), issued a Request for Information (RFI) on August 10th, 2011 to solicit ideas for sales, joint ventures, or other strategies to enhance Real Estate-Owned (REO) asset disposition programs of Fannie Mae, Freddie Mac and the Federal Housing Administration (FHA). In response to the request Stone Hill & Co. has submitted a disposition strategy to assist in augmenting financial relief to the above mentioned financial institutions.
News/Articles
Stone Hill focuses on Distressed Mortgage Loans
Stone Hill & Company executives decided on Friday that it will shift its investment focus from REO assets to the acquisition of distressed mortgage loans. This change is a result of the shrinking inventory of REO assets within the bulk REO arena.
Stone Hill & Company will focus on acquisitions of assets from community, regional, and national banks throughout the United States and is estimated to acquire and dispose of approximately 1,200 – 1,500 distressed assets ($125mm in UPB value) in the upcoming year.