BarCap Sees ‘Limited Use’ of Fannie’s Deed-for-Lease Program

"Although a new foreclosure alternative program announced Thursday by Fannie Mae (FNM: 1.04 -7.14%) presents a new step in mitigating foreclosure risk among distressed borrowers, it looks to have only a “marginal” effect on prepayments within Fannie residential mortgage-backed securities (RMBS), according to market commentary by Barclays Capital (BarCap)."