How many Fannie Mae investmtent property loans excluding Primary

[Kay Kay]

My credit union says I can have only 10 financed properties including the primary residence. Is that correct? 
I thought it can be 10 + primary residence mortgage.

[Nick Belsky]

@Kay Kay

 For Conventional only...

It can only be 10+ the primary if your primary is the subject property for the 11th transaction.

So you can't own a primary and 9 REOs, then purchase another REO as #11.

You can own 10 REOs, then buy a primary as #11.

Check out Freddie Mac. Depending on what kind of other REO you have, there are some exceptions that do not count towards the 10. Chapter 5306.

Cheers!