Freddie Mac reported a 79% increase in REO inventory year over year. They reported 34,699 in the second quarter in 2009, and 62,178 in the second quarter in 2010.
Additionally, a net loss of $4.7 billion was reported for the second quarter ending in June 30, 2010 , partially offset by a $4.3 billion improvement in accumulated other comprehensive income (AOCI). The net loss for the quarter that ended March 31, 2010 was reported to be $6.7 billion.
The FHFA (Federal Housing Finance Agency) is said to have requested an additional $1.8 billion from treasury in government aid. This will be in addition to the $60 billion in federal aid that Freddie Mac has already asked for.
According to Dow Jones Newswire, sister company Fannie Mae posted its smallest quarterly loss in three years last week. Both companies were placed under conservatorship in 2008 to prevent potential implosions at the height of the credit crisis. Freddie has asked for over $60 billion in federal aid, while Fannie's has asked for $85 billion.
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Brian and Jennifer Vanderhoff North Fulton County REALTORS Vanderhoff Real Estate (770) 331-1206 ---
Milton, GA Real Estate, Condos, Homes for Sale North Fulton County, GA Real Estate, Condos, Homes for Sale Forsyth, GA Real Estate, Condos, Homes for Sale ---
Labels: Bank owned properties, Foreclosures, foreclosures for sale, freddie mac, REO
# posted by
Brian Vanderhoff @ 9:51 AM
