FHFA: Foreclosure Prevention Report – February 2017
May 11, 2017
February 2017 Highlights
The Enterprises’ Foreclosure Prevention Actions:
- The Enterprises completed 14,549 foreclosure prevention actions in February, bringing the total to 3,862,467 since the start of the conservatorships in September 2008. Over half of these actions have been permanent loan modifications.
- There were 9,076 permanent loan modifications in February, bringing the total to 2,040,802 since the conservatorships began in September 2008.
- The share of modifications with principal forbearance accounted for 19 percent of all permanent modifications in February. Modifications with extend-term only remained at 44 percent during the month due to continuing improvement in house prices.
- There were 1,494 short sales and deeds-in-lieu completed in February, down 7 percent compared with January.
The Enterprises’ Mortgage Performance:
- The serious delinquency rate fell slightly from 1.12 percent at the end of January to 1.11 percent at the end of February.
The Enterprises’ Foreclosures:
- Third-party and foreclosure sales decreased 12 percent from 6,705 in January to 5,909 in February.
- Foreclosure starts increased 11 percent from 16,604 in January to 18,447 in February.