Second Quarter 2017 Highlights

The Enterprises' Foreclosure Prevention Actions:

• The Enterprises completed 48,760 foreclosure prevention modifications.
  
• The share of modifications with principal forbearance increased to 28 percent in the second quarter. Modifications with extend-term only accounted for 43 percent of all loan modifications during the quarter due to improved house prices and expiration of the Home Affordable Modification Program (HAMP).
  
• As of June 30, 2017, approximately 20 percent of loans modified in the second quarter of 2016 had missed two or more payments, one year after modification.
  
• There were 4,757 completed short sales and deeds-in-lieu during the quarter, bringing the total to 675,759 since the conservatorships began in September in 2008.
  

The Enterprises' Mortgage Performance:

• The number of 60+ days delinquent loans declined 6 percent to 354,178 at the end of the second quarter, from 377,622 at the end of the first quarter.
  
• The Enterprises' serious delinquency rate fell to 0.9 percent at the end of the second quarter, the lowest level since January of 2008. This compared with 3.8 percent for Federal Housing Administration (FHA) loans, 2.0 percent for Veterans Affairs (VA) loans, and 2.5 percent for all loans (industry average).
  

The Enterprises' Foreclosures:

• Foreclosure starts fell 11 percent to 44,989 while third-party and foreclosure sales decreased 9 percent to 17,542 in the second quarter.
  
  

Related News Release

For an interactive online map that provides state data, click on the following link: Fannie Mae and Freddie Mac State Borrower Assistance Map