Foreclosure Prevention Actions Top 3.5 Million Through Second Quarter 2015
Washington, D.C. – The Federal Housing Finance Agency (FHFA) today reported that Fannie Mae and Freddie Mac completed 63,593 foreclosure prevention actions in the second quarter of 2015, bringing the total number of foreclosure prevention actions to over 3.5 million since the start of the conservatorships in September 2008. These measures have helped more than 2.9 million borrowers stay in their homes, including more than 1.8 million who received permanent loan modifications.
Further details can be found in FHFA’s second quarter Foreclosure Prevention Report, which also includes data on Fannie Mae and Freddie Mac home retention actions, delinquency data and real estate owned (REO) inventory. FHFA publishes the report data in an online, interactive Borrower Assistance Map accessible through FHFA.gov.Other foreclosure prevention data for Fannie Mae and Freddie Mac noted in the quarterly report include:
- The REO inventory of Fannie Mae and Freddie Mac declined 14 percent during the second quarter to 86,515, marking the first time REO inventory has been below 100,000 since 2009.
- The number of 60+ day delinquent loans declined another 6 percent during the quarter.
- Approximately 31 percent of all permanent loan modifications in the second quarter helped to reduce homeowners’ monthly payments by over 30 percent.
- The serious delinquency rate of Fannie Mae and Freddie Mac loans fell to 1.6 percent at the end of the second quarter.
The Federal Housing Finance Agency regulates Fannie Mae, Freddie Mac and the 11 Federal Home Loan Banks. These government-sponsored enterprises provide nearly $5.7 trillion in funding for the U.S. mortgage markets and financial institutions. Additional information is available at www.FHFA.gov, on Twitter @FHFA, YouTube and LinkedIn.
Media: Corinne Russell (202) 649-3032 / Stefanie Johnson (202) 649-3030
Consumers: Consumer Communications or (202) 649-3811
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