Report: Shadow Inventory Looms Large for GSEs, HUD :
hadow inventory held by the GSEs and HUD “vastly” outnumbers REO properties the groups maintain, according to a joint report from the Office of Inspector General for the Federal Housing Finance Agency and HUD. The report further warned HUD and the GSEs must pay close attention to shadow inventory, which threatens to increase their supply of REOs.
For the report, shadow inventory was defined as properties 90-days or more past due but not yet in foreclosure
According to the report, as of September 2012, HUD held about 37,445 REOs in its inventory, while Fannie Mae and Freddie Mac had about 158,138 REOs, leading to a combined total of 195,583. [Read More] ... publish by Trinity Realty and Investment at Whittier Real Estate in CA
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