Post-Moratorium Foreclosure Sales Surge

"Although government-sponsored entities Fannie Mae (FNM: 0.7804 -4.83%) and Freddie Mac (FRE: 0.8061 -6.27%) increased their foreclosure prevention actions by 9% in February, completed foreclosure sales at the GSEs surged nearly 900% from January, according to the foreclosure prevention report issued Tuesday by the Federal Housing Finance Agency (FHFA) on behalf of the enterprises."