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Foreclosure Prevention Report

Foreclosure Prevention Report - May 2014

Published: 8/5/2014

​​May 2014 Highlights

​​The Enterprises' Foreclosure Prevention Actions:

  • Fannie Mae and Freddie Mac completed approximately 26,400 foreclosure prevention actions in May, bringing the total foreclosure prevention actions to more than 3.2 million since the start of conservatorship in 2008. Half of these actions have been permanent loan modifications.
  • There were more than 16,000 permanent loan modifications in May, down 10 percent from April.
  • Approximately 25 percent of all permanent loan modifications in May included principal forbearance.
  • There were nearly 4,800 completed short sales and deeds-in-lieu in May, down 4 percent from April.

The Enterprises' Mortgag​e Performance:

  • The serious delinquency rate dropped to 2.09 percent at the end of May, from 2.14 percent in April.

The Enterprises' Foreclosure​​s:

  • Third-party and foreclosure sales declined 3 percent to nearly 14,400, while foreclosure starts increased 18 percent to 30,800 in May.
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