​August 2019 Highlights -- Foreclosure Prevention 

The Enterprises' Foreclosure Prevention Actions:

• The Enterprises completed 8,464 foreclosure prevention actions in August, bringing the total to 4,372,944 since the start of the conservatorships in September 2008. Over half of these actions have been permanent loan modifications.
• There were 5,721 permanent loan modifications in August, bringing the total to 2,368,691 since the conservatorships began in September 2008.
• Twenty-nine percent of modifications in August were modifications with principal forbearance. Modifications with extend-term only accounted for 65 percent of all loan modifications during the month.
• There were 432 short sales and deeds-in-lieu of foreclosure completed in August, down 4 percent compared with July.

The Enterprises' Mortgage Performance:

• The serious delinquency rate remaiined unchaged at 0.65 percent at the end of August from July.
  

The Enterprises' Foreclosures:

• Third-party and foreclosure sales decreased slightly from 3,328 in July to 3,321 in August.
• Foreclosure starts decreased from 10,054 in July to 8,941 in August.
  

​August 2019 Highlights -- Refinance Activities 

• Total refinance volume increased in August 2019 as mortgage rates fell in previous months. Mortgage rates decreased in August: the average interest rate on a 30-year fixed rate mortgage fell to 3.62 percent from 3.77 percent in July.
  
• The percentage of cashout refinances decreased as mortgage rates fell in previous months, creating more opportunities for non cashout borrowers to refinance at lower rates and lower their monthly payments. 
  
• In August 2019, borrowers completed 2 refinances through HARP, bringing total refinances since the inception of the program to 3,495,410.
  
• Borrowers who refinanced through HARP had a lower delinquency rate compared to borrowers eligible for HARP who did not refinance through the program.