FHFA Foreclosure Prevention Report – August 2015
November 5, 2015
?August 2015 Highlights
The Enterprises’ Foreclosure Prevention Actions:
- The Enterprises completed 17,806 foreclosure prevention actions in August 2015, bringing the total to 3,578,227 since the start of the conservatorships in September 2008. Over half of these actions have been permanent loan modifications.
- There were 11,382 permanent loan modifications in August, bringing the total to 1,857,562 since the start of conservatorships.
- The share of modifications with principal forbearance increased slightly to 19 percent. Modifications with extend-term only accounted for 47 percent of modifications in August due to improved house prices and a declining HAMP eligible population.
- There were 2,892 short sales and deeds-in-lieu completed in August, down 7 percent compared with July.
The Enterprises’ Mortgage Performance:
- The serious delinquency rate decreased slightly from 1.57 percent at the end of July to 1.56 percent at the end of August.
The Enterprises’ Foreclosures:
- Third-party and foreclosure sales decreased 8 percent in August to 8,530, from 9,316 in July.
- Foreclosure starts increased 29 percent in August to 25,121, from 19,481 in July.??
Attachments: Foreclosure Prevention Report – August 2015