Foreclosure Prevention Report – October 2018
January 22, 2019
October 2018 Highlights
The Enterprises’ Foreclosure Prevention Actions:
•The Enterprises completed 15,272 foreclosure prevention actions in October, bringing the total to 4,258,046 since the start of the conservatorships in September 2008. Over half of these actions have been permanent loan modifications.
•There were 10,484 permanent loan modifications in October, bringing the total to 2,298,636 since the conservatorships began in September 2008.
•Twenty-eight percent of modifications in October were modifications with principal forbearance. Modifications with extend-term only accounted for 64 percent of all loan modifications during the month.
•There were 633 short sales and deeds-in-lieu of foreclosure completed in October, up slightly compared with September.
The Enterprises’ Mortgage Performance:
•The serious delinquency rate dropped from 0.79 percent at the end of September to 0.76 precent at the end of October.
The Enterprises’ Foreclosures:
•Third-party and foreclosure sales increased from 3,705 in September to 4,416 in October.
•Foreclosure starts increased from 9,419 in September to 12,752 in October.