Grand Rapids, Michigan REO 
REO (Real Estate Owned) inventory for the Grand Rapids-Wyoming, MI MSA. The numbers presented here measure the REO property available only from the institutions listed below and do not represent the total REO inventory for Grand Rapids, Michigan. REO inventories are further broken out into government, bank, and broker/originator components below. This REO index was set to 100 on 4/6/2007.
Monthly Averages (Inventory index shown in plot above)
| Date | Additions Deletions | Total Inventory | Inventory Index | ||
|---|---|---|---|---|---|
| 08/2008 | 401 | 156.0 | |||
| 07/2008 | 714 | 277.8 | |||
| 06/2008 | 792 | 308.4 | |||
| 05/2008 | 727 | 283.1 | |||
| 04/2008 | 681 | 265.2 | |||
| 03/2008 | 682 | 265.6 | |||
| 02/2008 | 568 | 221.1 | |||
| 01/2008 | 504 | 196.4 | |||
| 12/2007 | 440 | 171.2 | |||
| 11/2007 | 491 | 191.2 | |||
| 10/2007 | Chase | 438 | 170.4 | ||
| 09/2007 | 419 | 160.3 | |||
| 08/2007 | 346 | 132.6 | |||
| 07/2007 | 224 | 85.6 | |||
| 06/2007 | 273 | 104.4 | |||
| 05/2007 | 297 | 113.7 | |||
| 04/2007 | 258 | 98.8 |
Last 10 Weeks
| Date | Total Inventory | Inventory Index | |||
|---|---|---|---|---|---|
| 08/08/2008 | 397 | 154.6 | |||
| 08/01/2008 | 404 | 157.3 | |||
| 07/25/2008 | 395 | 153.8 | |||
| 07/18/2008 | 828 | 322.4 | |||
| 07/11/2008 | 819 | 318.9 | |||
| 07/04/2008 | 812 | 316.2 | |||
| 06/27/2008 | 792 | 308.4 | |||
| 06/20/2008 | 788 | 306.8 | |||
| 06/13/2008 | 801 | 311.9 | |||
| 06/06/2008 | 787 | 306.5 |
Government Owned/Sponsored
The organizations below are either government agencies or institutions sponsored by the government. HUD and VA are government agencies that promote home ownership and fair housing and back loans issued under their respective charters. Freddie Mac and Fannie Mae are GSEs that were created by the government to increase home ownership through the purchase of loans meeting their standards.
Last 10 Weeks
| Date | Government (HUD/VA) | Freddie Mac | Fannie Mae | ||
|---|---|---|---|---|---|
| 08/08/2008 | 143 | 41 | 141 | ||
| 08/01/2008 | 149 | 43 | 140 | ||
| 07/25/2008 | 142 | 38 | 139 | ||
| 07/18/2008 | 570 | 37 | 143 | ||
| 07/11/2008 | 567 | 35 | 143 | ||
| 07/04/2008 | 552 | 39 | 144 | ||
| 06/27/2008 | 533 | 41 | 135 | ||
| 06/20/2008 | 533 | 44 | 130 | ||
| 06/13/2008 | 536 | 43 | 141 | ||
| 06/06/2008 | 530 | 40 | 143 |
Bank Owned
The REO listed below are owned by banks. I loosely define banks here to be places that provide a wider range of financial services than mortgage lending/origination. Bank REO is currently being tracked for Bank of America, Chase, Citi, HBSC, and IndyMac.
Last 10 Weeks
| Date | BoA | Chase | Citi | HBSC | IndyMac |
|---|---|---|---|---|---|
| 08/08/2008 | 0 | 6 | 1 | 8 | |
| 08/01/2008 | 0 | 7 | 1 | 7 | |
| 07/25/2008 | 0 | 13 | 1 | 5 | |
| 07/18/2008 | 0 | 13 | 1 | 7 | |
| 07/11/2008 | 0 | 13 | 1 | 8 | |
| 07/04/2008 | 0 | 15 | 1 | 6 | |
| 06/27/2008 | 0 | 24 | 1 | 10 | |
| 06/20/2008 | 0 | 24 | 1 | 9 | |
| 06/13/2008 | 0 | 24 | 1 | 8 | |
| 06/06/2008 | 0 | 24 | 1 | 8 |
Mortgage Broker/Originator Owned
Mortgage brokers/originators own the REO listed below. Brokers/Originators are loosely defined to be organizations that generally find purchasers for loans that they originate or issue. Through various legal arrangements with the institutions that finance them, brokers/originators can (sometimes) end up owning the property they originated a loan for if that loan goes bad. Broker/Originator REO is currently being tracked for Countrywide.
Last 10 Weeks
| Date | Countrywide | ||||
|---|---|---|---|---|---|
| 08/08/2008 | 57 | ||||
| 08/01/2008 | 57 | ||||
| 07/25/2008 | 57 | ||||
| 07/18/2008 | 57 | ||||
| 07/11/2008 | 52 | ||||
| 07/04/2008 | 55 | ||||
| 06/27/2008 | 48 | ||||
| 06/20/2008 | 47 | ||||
| 06/13/2008 | 48 | ||||
| 06/06/2008 | 41 |