In 2011, the government cut the foreclosure inventory by half. “From the end of 2010 to 2011, Freddie Mac, Fannie Mae, and the Department of Housing and Urban Development saw a 49 percent reduction in the number of REO properties it owns. The three government enterprises held about 150,700 properties as of Dec. 31, 2011, compared to 296,000 at the end of 2010.”
Who Decreased By How Much?
HUD: Reduced foreclosures by 32,000, a 47% decrease.
FANNIE MAE: Decreased by 118,000, 27% of its total inventory.
FREDDIE MAC: Dropped 16% of REO inventory, 60,500 compared to 72,000 in the prior year.
Source: “Government-held REO Halved During Robo-Signing Freeze,” HousingWire (March 9, 2012)
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