FHFA: Foreclosure Preventions Surpass 3.8 Million
Investor Update
March 23, 2017
Washington, D.C. – The Federal Housing Finance Agency (FHFA) today released its fourth quarter Foreclosure Prevention Report, which shows that Fannie Mae and Freddie Mac (the Enterprises) completed 189,911 foreclosure prevention actions in 2016, bringing the total number of troubled homeowners helped since conservatorships to more than 3.8 million.
Of the 3.8 million foreclosure prevention actions, 3.1 million have helped troubled homeowners stay in their homes, including more than 2 million permanent loan modifications. FHFA’s report includes data on the Enterprises’ home retention actions, delinquency data and real estate owned (REO) inventory. FHFA publishes the report data in an online, interactive Borrower Assistance Map on FHFA.gov.
Other foreclosure prevention data noted in the quarterly report include:
- The Enterprises’ serious delinquency rate fell to 1.1 percent at the end of the fourth quarter, the lowest level since June 2008.
- The number of 60+ days delinquent loans declined slightly to 420,709 at the end of the fourth quarter, the lowest level since 2008.
- The Enterprises’ REO inventory declined by 9 percent in the fourth quarter to 48,380.
The Federal Housing Finance Agency regulates Fannie Mae, Freddie Mac and the 11 Federal Home Loan Banks. These government-sponsored enterprises provide more than $5.8 trillion in funding for the U.S. mortgage markets and financial institutions. Additional information is available at www.FHFA.gov, on Twitter @FHFA, YouTube and LinkedIn.
Contacts:
Media: Stefanie Johnson (202) 649-3030 / Corinne Russell (202) 649-3032
Consumers: Consumer Communications or (202) 649-3811
Source: FHFA