This report analyzes trends in Fannie Mae and Freddie Mac mortgage delinquencies and the level of assistance offered to homeowners who are in danger of foreclosure. The content of the report include delinquency status of the single family book, foreclosure prevention / loss mitigation actions, performance of modified loans, and foreclosure starts and foreclosure sales.

Second Quarter 2017 Highlights

Total refinance volume increased in June 2017 as mortgage rates fell in May. Mortgage rates continued to decrease in June: the average interest rate on a 30-year fixed rate mortgage fell to 3.90 percent from 4.01 percent in May.

In the second quarter of 2017:

​The Office of Information Policy requires all agencies to provide quarterly reporting for four key FOIA statistics to the Department of Justice.  This report is attended to identify trends and assess agencies' progress throughout the course of the fiscal year.

May 2017 Highlights

The Enterprises' Foreclosure Prevention Actions:

• The Enterprises completed 15,683 foreclosure prevention actions in May, bringing the total to 3,914,668 since the start of the conservatorships in September 2008.

Overview

• Fannie Mae and Freddie Mac (the “Enterprises”) are required to conduct annual stress tests pursuant to Federal Housing Finance Agency (FHFA) rule 12 CFR § 1238, which implements section 165(i)(2) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the "Dodd-Frank Act").

From the beginning of the Enterprises' Single-Family CRT programs in 2013 through March 2017, Fannie Mae and Freddie mac have transferred a portion of credit risk on $1.6 trillion of unpaid principal balance (UPB), with a combined Risk in Force (RIF) of about $54.2 billion, or 3.4 percent of UPB. An additional $779 billion of UPB and $197 billion of RIF has been transferred to primary mortgage insurers from 2013 through Q1 2017. 

U.S. house prices rose in May according to the FHFA seasonally adjusted monthly House Price Index (HPI).  From May 2016 to May 2017, house prices were up 6.9 percent. 

For the nine census divisions, seasonally adjusted monthly price changes from April 2017 to May 2017 ranged from -0.5 percent in the Middle Atlantic division to +1.0 percent in the West South Central division.  The 12-month changes were all positive, ranging from +4.0 percent in the Middle Atlantic division to +8.7 percent in the Pacific division.

May 2017 Highlights

Total refinance volume fell in May 2017 as mortgage rates in April remained over half a percent higher than the lows observed in 2016. Mortgage rates decreased in May: the average interest rate on a 30-year fixed rate mortgage fell to 4.01 percent from 4.05 percent in April.

In May 2017:

April 2017 Highlights

The Enterprises' Foreclosure Prevention Actions:

• The Enterprises completed 16,521 foreclosure prevention actions in April, bringing the total to 3,898,985 since the start of the conservatorships in September 2008.  Over half of these actions have been permanent loan modifications.
• There were 11,328 permanent loan modifications in April, bringing the total to 2,065,576 since the conservatorships began in September 2008.
• The share of modifications with principal forbearance accounted for 32 percent

First Quarter 2017 Highlights

The Enterprises' Foreclosure Prevention Actions:

• The Enterprises completed 49,104 foreclosure prevention actions in the first quarter of 2017, bringing the total to 3,882,464 since the start of conservatorships in September 2008. Of these actions, 3,211,462 have helped troubled homeowners stay in their homes including 2,054,248 permanent loan modifications.
• The share of modifications with principal forbearance increased to 26 percent.