Washington, D.C. – The Federal Housing Finance Agency (FHFA) today released a report showing that Fannie Mae and Freddie Mac completed approximately 80,000 foreclosure prevention actions in the second quarter, bringing the total to nearly 3.3 million since the start of the conservatorships in September 2008.  These measures have helped about 2.7 million borrowers stay in their homes, including nearly 1.7 million who received permanent loan modifications. 

Further detail can be found in FHFA’s quarterly 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. 

• The number of 60+ days delinquent loans declined 5 percent to the lowest level since the start of conservatorships.
• The serious delinquency rate fell to 2.1 percent at the end of the second quarter compared with 6.2 percent for Federal Housing Administration loans, 3.4 percent for Veterans Affairs loans and 4.8 percent for all loans.
• As of June 30, 2014, about 13 percent of loans modified in the second quarter of 2013 had missed two or more payments, one year after modification.
• Approximately 37 percent of all permanent loan modifications helped to reduce homeowners' monthly payments by more than 30 percent in the second quarter.
• Approximately 25 percent of borrowers who received permanent loan modifications in the second quarter had portions of their mortgage balance forborne.
• Approximately 14,500 short sales and deeds-in-lieu were completed in the second quarter, bringing the total to more than 581,400 since the start of the conservatorships.
• Third-party sales and foreclosure sales fell 10 percent to 42,800 while foreclosure starts increased slightly in the second quarter.
• The REO inventory of Fannie Mae and Freddie Mac declined 10 percent during the quarter to approximately 131,500, as property dispositions outpaced property acquisitions.