Short Sales Hit Record High, Fannie and Freddie Reports

Short Sales Hit Record High, Fannie and Freddie Reports

Short Sales Hit Record High, Fannie and Freddie Report

Short sales reached a record number in the third quarter of 2012 for Fannie Mae and Freddie Mac-backed loans, according to the Federal Housing Finance Agency, the mortgage giants’ regulator. 

Short sales and deeds-in-lieu of foreclosure were up 23 percent from a year ago, totaling 37,966 for the third quarter, FHFA reports. 

In June, Fannie and Freddie had implemented new timelines to speed up the review and approval of short sales. 

Meanwhile, Fannie and Freddie’s inventories of REO homes is dropping, down 13 percent from a year ago. What’s more, REO inventories are down nearly 36 percent from the peak reached in September 2010.  

Source: “Fannie, Freddie Short Sales Hit Record High,” Inman News (Jan. 7, 2012)

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Cindy Gardner
Century 21 New Millennium
2448 Holly Avenue
Annapolis MD 21401
410-703-9202
Fax: 443-458-0174

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Cindy Gardner
Century 21 New Millennium
2448 Holly Avenue
Annapolis, MD 21401
 Phone: 410.703.9202
  Fax: 443.458.0174
Cindy.Gardner@C21NM.com