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Foreclosure Prevention, Refinance, and FPM Report

Foreclosure Prevention, Refinance, and Federal Property Manager's Report — April 2019

Published: 7/11/2019

​April 2019 Highlights — Foreclosure Prevention

The Enterprises' Foreclosure Prevention Actions:

  • The Enterprises completed 11,746 foreclosure prevention actions in April, bringing the total to 4,334,550 since the start of the conservatorships in September 2008. Over half of these actions have been permanent loan modifications.
  • There were 7,657 permanent loan modifications in April, bringing the total to 2,343,704 since the conservatorships began in September 2008.
  • Thirty-two percent of modifications in April were modifications with principal forbearance. Modifications with extend-term only accounted for 63 percent of all loan modifications during the month.
  • There were 530 short sales and deeds-in-lieu of foreclosure completed in April, up 5 percent compared with March.

The Enterprises' Mortgage Performance:

  • The serious delinquency rate decreased slightly from 0.71 percent at the end of March to 0.69 percent at the end of April.

The Enterprises' Foreclosures:

  • Third-party and foreclosure sales decreased from 3,527 in March to 3,398 in April.
  • Foreclosure starts decreased from 11,238 in March to 10,320 in April.

April 2019 Highlights — Refinance Activities

  • Total refinance volume increased in April 2019 as mortgage rates fell in previous months. Mortgage rates decreased in April: the average interest rate on a 30‐year fixed rate mortgage fell to 4.14 percent from 4.27 percent in March.

In April 2019:


  • Borrowers completed 64 refinances through HARP, bringing total refinances from the inception of the program to 3,495,360.
  • HARP volume represented 0.1 percent of total refinance volume.
  • Borrowers who refinanced through HARP had a lower delinquency rate compared to borrowers eligible for HARP who did not refinance through the program. 
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