The Federal Housing Finance Agency's request for proposals for foreclosed homes garnered responses from hundreds of firms, including Deutsche Bank, Barclays Capital and Fortress Investment Group. The FHFA was seeking ideas for renting out the seized properties as Fannie Mae and Freddie Mac strive to cut their losses and support housing values. "In our opinion, this is the most important housing-related program under consideration," said Oliver Chang, an analyst at Morgan Stanley. "The hope is that a larger unified program is established that could move the needle a year or two down the road."

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