Third Quarter Highlights

The Enterprises' Foreclosure Prevention Actions:

• The Enterprises completed 46,390 foreclosure prevention actions in the third quarter of 2016, bringing the total to 3,787,888 since the start of conservatorships in September 2008. Of these actions, 3,127,237 have helped troubled homeowners stay in their homes including 1,993,692 permanent loan modifications.
• The share of modifications with principal forbearance remained at 19 percent. Modifications with extend-term only accounted for 44 percent of all loan modifications in the third quarter due to improved house prices and a declining HAMP eligible population.
• As of September 30, 2016, approximately 21 percent of loans modified in the third quarter of 2015 had missed two or more payments, one year after modification.
• There were 6,167 completed short sales and deeds-in-lieu during the quarter, bringing the total to 660,651 since the conservatorships began in September in 2008.

The Enterprises' Mortgage Performance:

• The number of 60+ days delinquent loans declined another 3 percent to 421,765 at the end of the third quarter, which remains the lowest level since 2008.
• The Enterprises' serious delinquency rate fell to 1.2 percent at the end of the third quarter, the lowest level since June of 2008. This compared with 4.4 percent for Federal Housing Administration (FHA) loans, 2.3 percent for Veterans Affairs (VA) loans, and 3.0 percent for all loans (Industry average).

The Enterprises' Foreclosures:

• Foreclosure starts decreased 7 percent to 51,376 while third-party and foreclosure sales fell 9 percent to 21,293 in the third quarter.

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

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