Washington, D.C. – The Federal Housing Finance Agency (FHFA) today reported that Fannie Mae and Freddie Mac completed nearly 65,900 foreclosure prevention actions in the fourth quarter of 2014, bringing the total foreclosure prevention actions to more than 3.4 million since the start of the conservatorships in September 2008. These measures have helped nearly 2.8 million borrowers stay in their homes, including 1.8 million who received permanent loan modifications.
Further detail can be found in FHFA’s fourth quarter Foreclosure Prevention Report, which also includes data on Fannie Mae and Freddie Mac home retention actions, delinquency data and real-estate owned (REO) inventory. FHFA publishes the report data in an online, interactive Borrower Assistance Map accessible through FHFA.gov.
Other foreclosure prevention data for Fannie Mae and Freddie Mac noted in the quarterly report include:
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The number of 60+ day delinquent loans declined another 3 percent during the quarter to the lowest level since the start of conservatorships;
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The serious delinquency rate of Fannie Mae and Freddie Mac loans fell to 1.9 percent at the end of the fourth quarter;
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Approximately 33 percent of all permanent loan modifications helped to reduce homeowners' monthly payments by over 30 percent in the fourth quarter;
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There were 10,800 short sales and deeds-in-lieu completed in the fourth quarter, bringing the total to approximately 605,000 since the start of the conservatorships.
Media: Stefanie Johnson (202) 649-3030 / Corinne Russell (202) 649-3032
Consumers: Consumer Communications or (202) 649-3811