2012-09-11 — utsandiego.com
``This process works for Fannie Mae, a government-backed enterprise, because it could speed up returns to the federal government, and in turn, taxpayers, Miller added.
The idea for the overall bulk-foreclosure program was floated in 2011, and investors were invited to qualify for the program in February. At the start of the initiative, roughly 2,500 foreclosures were up for grabs, including more than 600 homes in Riverside and Los Angeles counties.
That news spurred opposition from business trade group California Association of Realtors, which said the program will reduce an already-low housing inventory. ''
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