Fannie, Freddie, FHA REO inventory down 38 percent from peak

Fannie Mae, Freddie Mac and FHA continue to work through their backlogs of repossessed homes, with combined REO inventory as of June 30 down almost 10 percent from a year ago, to 183,381, Calculated Risk reports. That’s down almost 38 percent from a peak of 295,307 at the end of 2010. FHA’s REO inventory was up for the second quarter in a row, “something to watch,” the respected blog noted.

Other sources of REO properties include FDIC-insured institutions and subprime loans pooled into “private label” mortgage-backed securities not backed by Fannie, Freddie or FHA. Those have also been on the decline, Calculated Risk reports.  Source: calculatedriskblog.com.