Duane Schroeder

Per HW HousingWire:

"Fannie and Freddie hold more than 173,000 repossessed homes as of March 31, a 20% reduction from 218,000 held at the same point last year, according to their first quarter financial statements.

The end of 2011 marked the first year the GSEs sold more REO than they acquired. Fannie and Freddie disposed of 353,851 properties and took on roughly 298,000 last year"

REO is an acronym for Real Estate Owned also known as a Foreclosed property.

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