Despite all Fannie Mae and Freddie Mac's ongoing effort to curb the rise in foreclosures, analyst are saying that they expect a growing number of foreclosure listings going into 2011.
S&P was quoted stating: “Despite one quarter of stabilization in the seriously delinquent rate, foreclosure pipelines are large and continue to grow, and modifications have not been very successful to date.”For every one foreclosed property Fannie disposed of in Q2, S&P says the GSE repossessed 1.39 homes. Freddie’s ratio was one disposition to 1.32 new REOs.
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