Fannie and Freddie reported results this week. Here is some information on Real Estate Owned (REOs).
Freddie Mac reported the number of REO declined to 13,284 at the end of Q2 2106 compared to 19,484 at the end of Q2 2015.
For Freddie, this is down 82% from the 74,897 peak number of REOs in Q3 2010. For Freddie, this is the lowest since 2007.
Fannie Mae reported the number of REO declined to 45,981 at the end of Q2 2016 compared to 68,717 at the end of Q2 2015.
For Fannie, this is down 72% from the 166,787 peak number of REOs in Q3 2010. For Fannie, this is the lowest since Q1 2008.
Here is a graph of Fannie and Freddie Real Estate Owned (REO).
REO inventory decreased in Q2 for both Fannie and Freddie, and combined inventory is down 33% year-over-year.
Delinquencies are falling, but there are still a number of properties in the foreclosure process with long time lines in judicial foreclosure states – but this is getting close to normal levels of REOs.