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Freddie Mac: $4.7 billion Loss, REO Inventory increases 79% YoY

By Anonymous

Freddie Mac reported: "a net loss of $4.7 billion for the quarter ended June 30, 2010, compared to a net loss of $6.7 billion for the quarter ended March 31, 2010." and the FHFA requested another $1.8 billion from Treasury. (ht jb)

"We recognize that high unemployment and other factors still pose very real challenges for the housing market" said Freddie Mac Chief Executive Officer Charles E. Haldeman, Jr.

Click on graph for larger image in new window.

Freddie Mac reported that their REO inventory increased 79% year over year, from 34,699 in Q2 2009 to 62,178 in Q2 2010.

REO: Real Estate Owned.

See page 16 of the Second Quarter 2010 Financial Results Supplement

This graph shows the rapid increase in REO.

Note: last week I posted a graph of the Fannie Mae REO.

Full post as published by Calculated Risk on August 09, 2010 (boomark / email).