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According to the web https://www.investopedia.com/articl...nnie-mae-what-it-does-and-how-it-operates.asp the (USA) Federal National Mortgage association purchases mortgages. In looking at histories of homes in online county government records and newspapers, one sees properties foreclosed and then deeded to mortgage companies. Then one sees the mortgage company deed the property to Fannie Mae in return for "for valuable consideration".
I understand Fannie Mae taking poession of a property if it owns the mortgage on it. But does Fannie Mae also buy foreclosed properties? Or is this deeding of a property from a mortgage company to Fannie Mae due to the existence of two different liens on the property?
I understand Fannie Mae taking poession of a property if it owns the mortgage on it. But does Fannie Mae also buy foreclosed properties? Or is this deeding of a property from a mortgage company to Fannie Mae due to the existence of two different liens on the property?