FHFA: Foreclosure Prevention Report – August 2018
November 6, 2018
August 2018 Highlights
The Enterprises’ Foreclosure Prevention Actions:
The Enterprises completed 24,121 foreclosure prevention actions in August, bringing the total to 4,227,732 since the start of the conservatorships in September 2008. Over half of these actions have been permanent loan modifications.
There were 19,345 permanent loan modifications in August, bringing the total to 2,276,989 since the conservatorships began in September 2008.
Twenty-four percent of modifications in August were modifications with principal forbearance. Modifications with extend-term only accounted for 53 percent of all loan modifications during the month.
There were 752 short sales and deeds-in-lieu of foreclosure completed in August, down 3 percent compared with July.
The Enterprises’ Mortgage Performance:
The serious delinquency rate dropped from 0.84 percent at the end of July to 0.79 percent at the end of August.
The Enterprises’ Foreclosures:
Third-party and foreclosure sales increased from 4,116 in July to 4,643 in August.
Foreclosure starts decreased from 11,639 in July to 11,499 in August.
Attachments: Foreclosure Prevention Report – August 2018