San Diego, California-based New Vista Asset Management, a company that markets and manages REO properties, has partnered with Fannie Mae to promote foreclosures as exciting investment opportunities for first-time and minority home buyers.

In a press release, New Vista says its marketing strategy — devised in partnership with Fannie Mae — was designed to prevent neighborhoods from experiencing further erosion related to the record number of foreclosures popping up nationwide.
“New Vista is excited to work with Fannie Mae to create a new path to homeownership using these REO units. We believe our partnership will demonstrate a more responsible way to sustain homeownership opportunities within the minority communities,” said New Vista¹s chief executive officer Jim Park. “Our focus is to market and sell these units directly to first-time and minority homebuyers using a national network of real estate professionals with deep roots in those minority communities as well as initiate consumer-direct outreach efforts to pair up mortgage-ready homebuyers to available REO properties.”
New Vista says it’s forming strategic partnerships with real estate brokers who can connect buyers to the fledgling properties, while also working with lenders to develop reliable loans that will make homeownership for these potential buyers effective and safe.