Latest News

Fannie and Freddie: REO inventory declined in Q2, Down 49% Year-over-year

0

by Calculated Risk on 8/09/2021 01:03:00 PM

Fannie and Freddie earlier reported results for Q2 2021. Here is some information on single-family Real Estate Owned (REOs).

Note that COVID is impacting foreclosure activity, from Fannie:

“The decline in single-family REO properties in the first half of 2021 compared with the first half of 2020 was due to the suspension of foreclosures that began in March 2020 as a result of the COVID-19 pandemic. In response to the pandemic and with instruction from FHFA, we have prohibited our servicers from completing foreclosures on our single-family loans through July 31, 2021, except in the case of vacant or abandoned properties.” emphasis added
Freddie Mac reported the number of REO declined to 1,477 at the end of Q2 2021 compared to 2,812 at the end of Q2 2020.

For Freddie, this is down 98% from the 74,897 peak number of REOs in Q3 2010.

Fannie Mae reported the number of REO declined to 6,363 at the end of Q2 2021 compared to 12,675 at the end of Q2 2020.

For Fannie, this is down 96% from the 166,787 peak number of REOs in Q3 2010.

Click on graph for larger image.

Here is a graph of Fannie and Freddie Real Estate Owned (REO).

REO inventory decreased in Q2 2021, and combined inventory is down 49% year-over-year.

This is well below a normal level of REOs for Fannie and Freddie.

North Texas Real Estate in July: Sales Down 16% YoY, Inventory Down 33% YoY

Previous article

MBA Survey: "Share of Mortgage Loans in Forbearance Decreases to 3.40%"

Next article

You may also like

Comments

Leave a reply

Your email address will not be published. Required fields are marked *

More in Latest News