FHFA: Foreclosure Prevention Actions Top 3.6 Million
March 24, 2016
Washington, D.C. – The Federal Housing Finance Agency (FHFA) today reported that Fannie Mae and Freddie Mac completed 47,769 foreclosure prevention actions in the fourth quarter of 2015, bringing the total number of foreclosure prevention actions to over 3.6 million since the start of the conservatorships in September 2008. These measures have helped more than 3.0 million borrowers stay in their homes, including nearly 1.9 million who received permanent loan modifications.
Further details can be found in FHFA’s fourth 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 number of 60+ day delinquent loans declined another 3 percent during the quarter dipping to 515,420, the lowest number since the first quarter of 2008.
- The serious delinquency rate of Fannie Mae and Freddie Mac loans fell below 1.5 percent at the end of the fourth quarter, continuing a steady decline from a peak of 4.93 percent in the first quarter of 2010.
- Fannie Mae and Freddie Mac completed a total of 232,066 foreclosure prevention actions in 2015, including 196,815 home retention actions and 35,251 non-foreclosure home forfeiture actions.
Media: Corinne Russell (202) 649-3032 / Stefanie Johnson (202) 649-3030
Consumers: Consumer Communications or (202) 649-3811