FHFA: Foreclosure Prevention Report
May 10, 2016
February 2016 Highlights
The Enterprises’ Foreclosure Prevention Actions:
- The Enterprises completed 16,208 foreclosure prevention actions in February 2016, bringing the total to 3,674,849 since the start of the conservatorships in September 2008. Over half of these actions have been permanent loan modifications.
- There were 10,095 permanent loan modifications in February, bringing the total to 1,918,846 since the conservatorships began in September 2008.
- The share of modifications with principal forbearance decreased to 18 percent. Modifications with extend-term only remained at 48 percent of all permanent modifications in February due to improved house prices and a declining HAMP eligible population.
- There were 2,235 short sales and deeds-in-lieu completed in February, down 4 percent compared with January.
The Enterprises’ Mortgage Performance:
- The serious delinquency rate decreased from 1.47 percent at the end of January to 1.42 percent at the end of February.
The Enterprises’ Foreclosures:
- Third-party and foreclosure sales declined 15 percent from 9,062 in January to 7,716 in February.
- Foreclosure starts increased 20 percent from 17,831 in January to 21,369 in February.