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Foreclosure Prevention and Federal Property Manager’s Report

Foreclosure Prevention Report - July 2017

Published: 10/11/2017


The Enterprises' Foreclosure Prevention Actions:

  • The Enterprises completed 13,845 foreclosure prevention actions in July, bringing the total to 3,945,069 since the start of the conservatorships in September 2008. Over half of these actions have been permanent loan modifications.
  • There were 10,217 permanent loan modifications in July, bringing the total to 2,098,147 since the conservatorships began in September 2008.
  • Approximately 77 percent of borrowers who received permanent modification in July were three or more months delinquent at the beginning of the trial period, down from 81 percent in June.
  • The share of modifications with principal forbearance increased to 30 percent of all permanent modifications in July. Modifications with extend-term only remained at 47 percent due to continuing improvement in house prices.
  • There were 1,223 short sales and deeds-in-lieu completed in July, down 24 percent compared with June.

The Enterprises' Mortgage Performance:

  • The serious delinquency rate fell slightly from 0.95 percent at the end of June to 0.94 percent at the end of July.

The Enterprises' Foreclosures:

  • Third-party and foreclosure sales decreased 14 percent from 5,977 in June to 5,177 in July.
  • Foreclosure starts declined 6 percent from 13,028 in June to 12,255 in July.
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