REO disposition: HomePath golden ticket

Fannie Mae is the largest owner of REO properties in the United States. The government-sponsored enterprise reported in its second quarter 2010 financial statement that it had more than 129,000 properties in its inventory as of June 30 — more than double the 62,000 that fellow GSE Freddie Mac reported owning during the same period and nearly three times the estimated 44,000 REO properties that the Department of Housing and Urban Development owns from the Federal Housing Administration mortgage guarantee program. To dispose of these properties, Fannie turns to HomePath, its REO sales division and its network of thousands of real estate brokers that list and sell the houses.