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GSEs' Foreclosure Pipelines Will Grow Well into 2011

Despite the continued efforts of mortgage giants Fannie Mae and Freddie Mac to find sustainable workouts for delinquent borrowers – and the fact that their loan modification activity has indeed increased significantly this year – the analysts at Standard & Poor’s (S&P) expect the GSEs’ foreclosure inventories to continue to swell.

The two companies have each already completed about 40 percent more workout volume during the first half of 2010 than they did in all of 2009 by S&P’s estimates. Still, the ratings agency says annualized loan workout activity (as a percentage of existing delinquent loans) remains less than half at both institutions.

Read More: http://bit.ly/9iGWtF






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