Freddie Mac sold over 26,300 foreclosure properties in the third quarter, up 47% from a year ago, while its inventory of single-family REO continued to grow.
The GSE's third quarter financial report shows Freddie held 74,900 real estate owned as of September 30, compared to 62,200 foreclosed single-family units at the end of the second quarter.
The government-sponsored enterprise noted that its foreclosure activity could "slow due to delays in the foreclosure process, including delays related to concerns about deficiencies in the foreclosure practices of servicers."
Freddie's financial results, which were released on Tuesday, also show a 16% increase in the number of seriously delinquent loans (90-days or more past due) and loans classified as troubled debt restructurings since the start of 2010.
The GSE currently has $121 billion in seriously delinquent loans, including $25 billion in TDRs -- mainly due to higher volumes of loan modifications.
"We expect our nonperforming assets, including loans deemed TDRs, to continue to increase in the fourth quarter of 2010," Freddie says in its securities filing.
