Fannie Mae Homepath Property

[Lennie Holland]

Looking through MLS and found this. I'm not interested in the property I just didn't know a bank would fix and flip a property, if that's what this is?

Zillow and here it is at Homepath

It's obvious that someone rehabbed this property, I just don't know why it was foreclosed in August and now it's a Fannie Mae Homepath property?

Didn't know if this was a exit strategy for any future flips?

Forgive me, I'm still learning but could someone explain this one to me.

Thank you.