Foreclosure Prevention Report - First Quarter 2012

Published: 06/15/2012

First Quarter 2012 Highlights

The Enterprises have completed nearly 2.3 million foreclosure prevention actions since the start of conservatorship in September 2008. Over 1.9 million of these actions have helped borrowers keep their homes including more than 1.1 million permanent loan modifications.
Approximately half of borrowers who received loan modifications in the first quarter had their monthly payments reduced by over 30 percent.
Nearly one-third of loan modifications in the first quarter included principal forbearance.
The performance of modified loans remains strong. Fewer than 15 percent of loans modified in the second quarter of 2011 had missed two or more payments, nine months after modification.

Mortgage performance continues to improve as early stage (30-89 days) and serious delinquency rates declined during the first quarter of 2012.

Third-party and foreclosure sales decreased slightly while foreclosure starts increased for the first time since third quarter of 2010.
REO inventory declined as property dispositions increased and acquisitions decreased during the first quarter.