FHFA: Foreclosure Prevention Report – October 2015
January 13, 2016
October 2015 Highlights
The Enterprises’ Foreclosure Prevention Actions:
- The Enterprises completed 17,121 foreclosure prevention actions in October 2015, bringing the total to 3,612,801 since the start of the conservatorships in September 2008. Over half of these actions have been permanent loan modifications.
- There were 10,926 permanent loan modifications in October, bringing the total to 1,879,835 since the start of conservatorships.
- The share of modifications with principal forbearanceincreased slightly to 20 percent. Modifications with extend-term only accounted for 48 percent of modifications in October due to improved house prices and a declining HAMP eligible population.
- There were 2,744 short sales and deeds-in-lieu completed in October, up slightly compared with September.
The Enterprises’ Mortgage Performance:
- The serious delinquency rate decreased slightly from 1.52 percent at the end of September to 1.50 percent at the end of October.
The Enterprises’ Foreclosures:
- Third-party and foreclosure sales decreased slightly in October to 9,105, from 9,143 in September.
- Foreclosure starts decreased 12 percent in October to 18,946, from 21,590 in September.??
Attachments: Foreclosure Prevention Report – October 2015