The Federal Housing Finance Agency's REO rental program may capture 20% of the nation's 7.5 million total foreclosure pipeline, according to analysts at Bank of America Merrill Lynch.
About half of the nation's real estate-owned inventory is in only 20 metropolitan areas, BofAML analysts note. So even if the program only focuses on those 20 areas, it captures about half of the 3 million government-backed mortgages that will liquidate over the next four years.
