FHFA: Foreclosure Prevention Report – May 2018
August 7, 2018
May 2018 Highlights
The Enterprises’ Foreclosure Prevention Actions:
- The Enterprises completed 24,211 foreclosure prevention actions in May, bringing the total to 4,154,218 since the start of the conservatorships in September 2008. Over half of these actions have been permanent loan modifications.
- There were 17,557 permanent loan modifications in May, bringing the total to 2,218,961 since the conservatorships began in September 2008.
- Twenty-six percent of modifications in May were modifications with principal forbearance. Modifications with extend term only accounted for 47 percent of all loan modifications during the month.
- There were 887 short sales and deeds-in-lieu of foreclosure completed in May, up 4 percent compared with April.
The Enterprises’ Mortgage Performance:
- The serious delinquency rate decreased from 1.03 percent at the end of April to 0.97 percent at the end of May.
The Enterprises’ Foreclosures:
- Third-party and foreclosure sales increased from 4,410 in April to 4,624 in May.?
- Foreclosure starts decreased from 15,308 in April to 12,834 in May.
Attachments: Foreclosure Prevention Report – May 2018