Fannie Mae held 86,155 foreclosed properties on its books at the end of September, while its sister company, Freddie Mac, held slightly less: 74,897.
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Both GSEs have a stated policy of selling their REO to owner occupants first, and when that fails, disposing of them in bulk to investors. "We only sell the worst-of-the-worst in bulk," said a Fannie Mae spokeswoman.
During the first nine months of the year Fannie acquired 216,116 properties while disposing of 135,484. (At press time, comparable figures were not available for Freddie.)
Both will release their fourth quarter earnings and REO figures at the end of February.
