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Lenders Real Estate Inventory Foreclosure Crisis 2009
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In the best case, by seizing homes, Fannie and Freddie will turn non-performing loans into cash-producing assets and maintain their properties' value until the market mends. Or it will end up costing taxpayers a bundle if Fannie and Freddie's foray into being landlords goes south.
A side effect of a growing rental program could be fewer foreclosure listings, at least for Freddie, because this pulls homes off the market. Both companies have said they are eager to grow their rental programs.
Underreporting their brick and mortar holdings, or simply releasing their inventory in a controlled manner, has another benefit for the larger market because it softens the impact that a flood of extra homes would have on home prices. "It may be better for the housing market--and therefore the GSE loan portfolios," said RealtyTrac's Sharga.
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Ahorre May 15, 2009 09:50 AM