Freddie Mac: Breaking Through SDQ – It Takes a Village
March 9, 2017
Freddie Mac reached a major milestone thanks to our Servicers and their diligent work with borrowers.
In our January 2017 Monthly Volume Summary [PDF], Freddie Mac disclosed our single-family serious delinquency (SDQ) rate dropped below one percent – the lowest it's been in almost a decade. The reduction in borrowers who are 90 or more days delinquent, or in foreclosure, shows how far we've come as a business and as an industry.
Freddie Mac's SDQ rate peaked at 4.2% in 2010 but, with the significant amount of work our Servicers have done, we've made incredible strides together. Our Servicers have been at the forefront of helping homeowners, implementing updated foreclosure prevention policies and using Freddie Mac's flexible loss mitigation toolkit. Through their resolve and dedication to help troubled borrowers since 2009, 1.2 million struggling homeowners have been able to stay in their homes.
We'll continue to accomplish great things together moving forward, but it's worth taking a moment to recognize this milestone. Freddie Mac publically thanks all of our Servicers for their continued commitment to supporting America's housing market and responsible homeownership.
Source: Freddie Mac