Fannie’s REO volume doubles on mounting foreclosures and longer disposition times
Fannie Mae’s single-family REO inventory more than doubled from Q209 to Q210, and its foreclosure rate increased 16 basis points from Q109. The company attributed the increase to new foreclosures and added delays in the REO process. Fannie Mae acquired 68,838 single-family REO properties through foreclosure during Q210. At June 30, Fannie had 129,310 REO properties in its inventory, with a carrying value of $13bn — an increase from 62,615 properties valued at $6bn at the end of Q209.