​First Quarter 2015 Highlights

The Enterprises' Foreclosure Prevention Actions:

• The Enterprises completed 65,960 foreclosure prevention actions in the first quarter of 2015, bringing the total to 3,477,343 since the start of conservatorships in September 2008. Of these actions, 2,862,803 have helped troubled homeowners stay in their homes including 1,792,038 permanent loan modifications.
  
• Approximately 31 percent of all permanent loan modifications in the first quarter helped to reduce homeowners' monthly payments by over 30 percent.
• The share of modifications with principal forbearance fell to 19 percent while modifications with extend-term only increased to 48 percent due to improving house prices and a declining HAMP eligible population.
  
• As of March 31, 2015, approximately 17 percent of loans modified in the first quarter of 2014 had missed two or more
  payments, one year after modification.
  
• There were 9,509 completed short sales and deeds-in-lieu during the quarter, bringing the total to 614,540 since the start of conservatorships.
  
  

The Enterprises' Mortgage Performance:

• The number of 60+ days delinquent loans declined 9 percent during the first quarter as the economy improves and house prices continue to increase.
  
• The serious delinquency rate fell to 1.8 percent at the end of the quarter compared with 5.7 percent for Federal Housing
  Administration (FHA) loans, 3.2 percent for Veterans Affairs (VA) loans and 4.2 percent for all loans (Industry average).
  
  

The Enterprises' Foreclosures:

• Third-party sales and foreclosure sales declined 4 percent to 34,873 while foreclosure starts decreased 5 percent to 70,267 in the first quarter.
  
• REO inventory declined 10 percent during the quarter to 100,279, as property dispositions continued to outpace property acquisitions.

Related News Release