According to the latest filing with the SEC, Fannie Mae and Freddie Mac combined own close to 100,000. Rest assured not all of these properties are in Northern Virginia. In fact the Western Region of the US accounts for 46% of REO properties acquired in 2009.
The report indicates that the temporary suspension of foreclosures and work towards to completing more loan modifications have decreased the number of properties that both Government Sponsored Enterprises (GSE) own. Though the Midwest is the only region that has seen an actual decline in REO properties this year the other areas are holding steady. As expected Alt-A loans were the biggest pool of foreclosures that both companies currently own.
Hopefully as the government pushes for more loan modifications the inventory of GSE’s will continue to decline across the country.