According to the report, the shadow inventory is more than seven times the inventory of REOs that Fannie Mae, Freddie Mac, and HUD currently own.
Shadow inventory held by the GSEs and HUD “vastly” outnumbers REO properties the groups maintain, according to a joint report from the Office of Inspector General for the Federal Housing Finance Agency and HUD. The report further warned HUD and the GSEs must pay close attention to shadow inventory, which threatens to increase their supply of REOs. For the report, shadow inventory was defined as properties 90-days or more past due but not yet in foreclosure. Read more ...
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