Federal Housing Finance Agency Print

Get Started Here:

Conservatorship Reports

Home / About FHFA / Reports & Plans / Conservatorship Reports

Conservatorship Reports


 

The following reports provide an overview of Fannie Mae and Freddie Mac’s activities to fulfill the goals of the conservatorships to maintain credit availability, reduce risk to the taxpayer, and build a new single-family securitization infrastructure.



 

Jump to Report

Select a title to view all reports from that category.

  • All Reports
  • View All Reports
  • Annual Housing Report
  • Annual Report to Congress
  • Buy American Report
  • Chief FOIA Officer Report
  • Collateral Pledged to FHLBanks
  • Common Securitization Platform Update
  • Conservatorship Strategic Plan
  • Conservatorships Performance Goals – Scorecard
  • Conservatorships Progress Report
  • Conservator’s Report
  • Credit Risk Transfer Progress Report
  • Credit Risk Transfer Transactions
  • Default Risk Evaluation in the Single-Family Mortgage Market Report
  • Enterprise Non-Performing Loan Sales Report
  • FAIR Act Inventory
  • FHFA Annual Performance Plan
  • FHFA Performance and Accountability Report
  • FHFA Strategic Plan
  • FHLB System Securitization Report
  • FOIA Annual Report
  • FOIA Quarterly Report
  • Federal Property Manager's Report
  • Foreclosure Prevention, Refinance, and FPM Report
  • Foreclosure Prevention Report
  • Foreclosure Prevention and Federal Property Manager's Report
  • House Price Index
  • Housing GSEs Quarterly Financial Performance Report
  • Information Quality Report
  • Low Income Housing & Community Development Activities of the FHLB...
  • No FEAR Report
  • OMWI Strategic Plan
  • Office of Minority and Women Inclusion Report
  • Open Government Plan
  • Plain Language Report
  • Prepayment Monitoring Report
  • Refinance Report
  • SF CRT Progress Report
  • Single Family Guarantee Fees Report
  • Single Security Update
  • Stress Tests Reports - Fannie Mae & Freddie Mac
  • Sustainability Plan
  • Update on Implementation of the SS and the CSP



 Recent Conservatorship Reports

 

 

Foreclosure Prevention, Refinance, and FPM Report - 4Q2022401423/23/2023 4:00:00 AM<h2 style="border-color&#58;currentcolor;font-family&#58;lato, sans-serif;font-style&#58;normal;padding-top&#58;8px !important;">​​​​​4Q22 Highlights —&#160;Foreclosure Prevention<br></h2><p style="border-color&#58;currentcolor;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-style&#58;normal;margin-top&#58;8px !important;"> <span style="border-color&#58;currentcolor;font-family&#58;inherit;font-size&#58;inherit;font-weight&#58;700 !important;">The Enterprises' Foreclosure Prevention Actions&#58;</span></p><ul><li style="line-height&#58;1.4 !important;"><p>The Enterprises completed 52,469 foreclosure prevention actions in the fourth quarter of 2022, bringing the total to 6,712,833 since the start of conservatorships in September 2008. Of these actions, 6,008,546 have helped troubled homeowners stay in their homes, including 2,625,151 permanent loan modifications.</p></li><li style="line-height&#58;1.4 !important;"><p>Initiated forbearance plans increased to 47,608 in the fourth quarter from 41,856 in the third quarter of 2022. The total number of loans in forbearance at the end of the quarter was 81,173, representing approximately 0.26 percent of the total loans serviced, and 15 percent of the total delinquent loans.</p></li><li style="line-height&#58;1.4 !important;"><p>Twelve percent of modifications in the fourth quarter were modifications with principal forbearance. Modifications that include extend-term only accounted for 64 percent of all loan modifications during the quarter.</p></li><li style="line-height&#58;1.4 !important;"><p>There were 163 completed short sales and deeds-in-lieu during the quarter, bringing the total to 704,287 since the conservatorships began in September 2008.</p></li></ul><p style="border-color&#58;currentcolor;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-style&#58;normal;"> <span style="border-color&#58;currentcolor;font-family&#58;inherit;font-size&#58;inherit;font-weight&#58;700 !important;">The Enterprises' Mortgage Performance&#58;</span></p><ul><li style="line-height&#58;1.4 !important;"><p>The 60+ days delinquency rate increased slightly from 0.83 percent at the end of the third quarter to 0.84 percent at the end of the fourth quarter of 2022. The delinquency rates remained slightly higher than pre-coronavirus rates due to the forbearance programs offered to borrowers affected by the pandemic.</p></li><li style="line-height&#58;1.4 !important;"><p>The Enterprises' serious (90 days or more) delinquency rate fell to 0.65 percent at the end of the fourth quarter. This compared with 4.40 percent for Federal Housing Administration (FHA) loans, 2.43 percent for Veterans Affairs (VA) loans, and 1.89 percent for all loans (industry average).</p></li></ul><p style="border-color&#58;currentcolor;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-style&#58;normal;"> <span style="border-color&#58;currentcolor;font-family&#58;inherit;font-size&#58;inherit;font-weight&#58;700 !important;">The Enterprises' Foreclosures&#58;</span></p><ul><li style="line-height&#58;1.4 !important;"><p>Foreclosure starts increased 8 percent to 18,693 while third-party and foreclosure sales dropped 8 percent to 3,297 in the fourth quarter.</p></li></ul><blockquote style="border-color&#58;currentcolor;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;font-style&#58;normal;font-weight&#58;400;margin-left&#58;40px;"><p style="border-color&#58;currentcolor;"> <em style="border-color&#58;currentcolor;">​For an interactive online map that provides state data, click on the following link&#58;&#160;</em></p><p style="border-color&#58;currentcolor;"> <em style="border-color&#58;currentcolor;"></em> <a href="/DataTools/Tools/Pages/Borrower-Assistance-Map.aspx" style="border-color&#58;currentcolor;font-family&#58;&quot;source sans pro&quot;, sans-serif;">Fannie Mae and Freddie Mac State Borrower Assistance Map</a>​<br></p></blockquote> <span style="color&#58;#444444;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-style&#58;normal;">​</span><span style="color&#58;#444444;font-style&#58;normal;"></span> <h2 style="border-color&#58;currentcolor;font-family&#58;lato, sans-serif;font-style&#58;normal;padding-bottom&#58;8px !important;">4Q22&#160;Highlights ​— Refinance Activities​​<br></h2><ul><li style="line-height&#58;1.4 !important;"><p>Total refinance volume decreased in December 2022 as mortgage rates decreased in November but remained near the October peak of 6.90 percent. Mortgage rates fell in December&#58; the average interest rate on a 30-year fixed rate mortgage decreased to 6.36 percent from a November level of 6.81 percent.</p></li><li style="line-height&#58;1.4 !important;padding-bottom&#58;0px !important;margin-bottom&#58;0px !important;"><p style="padding-bottom&#58;0px !important;margin-bottom&#58;0px !important;">The percentage of borrowers refinancing into shorter term 15-year fixed rate mortgages decreased to 9 percent in December as the difference between 15- and 30-year fixed rate mortgages decreased to 0.67 percent in November.</p>​</li></ul><p style="margin-top&#58;0px !important;margin-bottom&#58;12px !important;">​ <a href="/Media/PublicAffairs/Pages/FHFA-Releases-4th-Quarter-2022-Foreclosure-Prevention-and-Refinance-Report.aspx">Related News Release</a></p>3/23/2023 4:00:17 PMHome / About FHFA / Reports / Foreclosure Prevention, Refinance, and FPM Report - 4Q2022 Foreclosure 184https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Foreclosure Prevention, Refinance, and Federal Property Manager's Report -November 2022390272/16/2023 5:00:00 AM<h2 style="padding-bottom&#58;10px !important;padding-top&#58;8px !important;">November 2022&#160;Highlights - Foreclosure Prevention<br></h2><p style="padding-top&#58;0px !important;padding-bottom&#58;0px !important;margin-bottom&#58;0px !important;font-weight&#58;600 !important;">The Enterprises' Foreclosure Prevention Actions&#58;​<br></p><ul><li style="line-height&#58;1.3 !important;padding-top&#58;4px !important;margin-top&#58;4px !important;">The Enterprises completed 16,746 foreclosure prevention actions in November, bringing the total to 6,695,943 since the start of the conservatorships in September 2008. Approximately 39 percent of these actions have been permanent loan modifications.</li><li style="line-height&#58;1.3 !important;">There were 5,135 permanent loan modifications in November, bringing the total to 2,620,190 since the conservatorships began in September 2008.</li><li style="line-height&#58;1.3 !important;">Approximately 66 percent of loan modifications in November involved extend term only. Modifications with principal forbearance accounted for 13 percent of all loan modifications during the month.</li><li style="line-height&#58;1.3 !important;">The number of borrowers who received payment deferrals after completing a COVID-19 related forbearance plan decreased 8 percent from 8,200 in October to 7,504 in November.</li><li style="line-height&#58;1.3 !important;padding-bottom&#58;0px !important;margin-bottom&#58;0px !important;">​Initiated forbearance plans decreased from 18,432 in October to 15,190 in November. However, the total number of loans in forbearance increased from 81,556 at the end of October to 83,123 at the end of November, representing approximately 0.27 percent of the total loans serviced, and 16 percent of the total delinquent loans.</li></ul> ​ <p style="padding-top&#58;0px !important;padding-bottom&#58;0px !important;margin-bottom&#58;0px !important;font-weight&#58;600 !important;margin-top&#58;0px !important;"> The Enterprises' Mortgage Performance&#58;&#160;</p><div style="padding-top&#58;0px;"><ul><li style="line-height&#58;1.3 !important;margin-top&#58;4px !important;">The 30-59 days delinquency rate increased to 0.89 percent while the serious delinquency rate declined to 0.65 percent at the end of November.</li></ul></div><p style="padding-top&#58;8px !important;padding-bottom&#58;0px !important;margin-bottom&#58;0px !important;font-weight&#58;600 !important;"> The Enterprises' Foreclosures&#58;​<br></p><div style="padding-top&#58;0px;"><ul><li style="line-height&#58;1.3 !important;margin-top&#58;4px !important;">Third-party and foreclosure sales decreased to 1,058 while foreclosure starts increased slightly to 6,201 in November.</li></ul></div><h2 style="padding-top&#58;24px !important;padding-bottom&#58;8px !important;">November 2022 Highlights - Refinance Activities</h2><div style="padding-top&#58;0px;"><ul><li style="line-height&#58;1.3 !important;">Total refinance volume decreased in November 2022 after an increase in mortgage rates in October. Mortgage rates fell in November&#58; the average interest rate on a 30-year fixed rate mortgage decreased to 6.81 percent from an October level of 6.90 percent.</li><li style="line-height&#58;1.3 !important;">The percentage of borrowers refinancing into shorter term 15-year mortgages continued at 13 percent in November. Interest rate savings of a 15-year mortgage over a 30-year mortgage has been higher in 2022 compared to previous years due to the rising mortgage rates since December 2021. However, the higher monthly cost of a 15-year mortgage compared to the greater affordability of a 30-year mortgage has reduced borrower interest in the 15-year mortgage.</li></ul></div>​​<br>​<br>2/16/2023 4:00:34 PMHome / About FHFA / Reports / Foreclosure Prevention, Refinance, and Federal Property Manager's Report -November 2022 The Enterprises completed 16,746 foreclosure prevention 554https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Prepayment Monitoring Report Fourth Quarter 2022388302/9/2023 5:00:00 AM<p style="padding-top&#58;12px !important;">​​​​​​Fannie Mae and Freddie Mac began issuing the Uniform Mortgage-Backed Securities (UMBS) on June 3, 2019.<br></p><p>This quarterly report provides market participants additional transparency into a sample of the data FHFA receives and reviews on a monthly basis. The report focuses on alignment of prepayment rates, which continues to be important to the success of UMBS and to the efficiency and liquidity of the secondary mortgage market.</p><p>Ex post monitoring of prepayment rates is part of a broader effort to assure investors that cash flows from UMBS will be similar regardless of which Enterprise is the issuer. This report provides insight into how FHFA monitors the consistency of prepayment rates across cohorts of the Enterprises’ TBA-eligible MBS,<a href="#footnote1" class="super-script">1</a> where a cohort consists of those Enterprise TBA-eligible securities with the same coupon, maturity, and loan-origination year and total combined issuance across the Enterprises exceeds $10 billion. A prepayment on a mortgage loan is the amount of principal paid in advance of the loan’s scheduled payments. Full prepayment occurs when a borrower pays off the loan ahead of the scheduled maturity.</p><p> <strong>Background on UMBS</strong></p><p style="padding-bottom&#58;12px !important;">Issuance of UMBS through the Enterprises’ jointly developed Common Securitization Platform (CSS), fulfilled important elements of FHFA’s <a href="/AboutUs/Reports/Pages/2014-Conservatorships-Strategic-Plan.aspx"><em>2014 Strategic Plan for the Conservatorships of Fannie Mae and Freddie Mac</em></a>. Forward trading of UMBS began in the “To-Be-Announced” (TBA) market​<a href="#footnote2" class="super-script">2</a>, on March 12, 2019 with first settlements of the UMBS trades on June 3, 2019. UMBS is issued without regard to which Enterprise is the issuer and has effectively merged the formerly separate MBS markets. UMBS has broadened and enhanced-liquidity in the secondary market for residential mortgages and reduced costs to taxpayers.<a href="#footnote3" class="super-script">3</a></p><hr /><p style="padding-top&#58;12px !important;"> <a name="footnote1" class="super-script">1</a>​ To avoid double counting, only first-level securitizations are included in the analysis. Second-level securitizations (Megas, Giants, and Supers) are excluded, with the exception of fastest quartile analyses and Table 2 (Quartile Report). For those exceptions, Freddie Mac multi-lender second-level securitizations traded as a single security are included and the related first-level securitizations are excluded to avoid double counting.</p><p> <a name="footnote2" class="super-script">2</a> The TBA market is a forward market for certain mortgage-backed securities, including those issued by the Enterprises.</p><p> <a name="footnote3" class="super-script">3</a> See <a href="/AboutUs/Reports/ReportDocuments/Single%20Security%20Update%20final.pdf">​<em>An Update on the Structure of the Single Security</em></a>, May 2015, p.4 </p>​​<br>2/9/2023 3:00:18 PMHome / About FHFA / Reports / Prepayment Monitoring Report Fourth Quarter 2022 Prepayment Monitoring 896https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Foreclosure Prevention, Refinance, and Federal Property Manager's Report - October 2022386741/24/2023 5:00:00 AM<h2 style="padding-bottom&#58;10px !important;padding-top&#58;8px !important;">​​October 2022&#160;Highlights - Foreclosure Prevention<br></h2><p style="padding-top&#58;0px !important;padding-bottom&#58;0px !important;margin-bottom&#58;0px !important;font-weight&#58;600 !important;">The Enterprises' Foreclosure Prevention Actions&#58;​<br></p><ul><li style="line-height&#58;1.3 !important;padding-top&#58;4px !important;margin-top&#58;4px !important;">The Enterprises completed 18,833 foreclosure prevention actions in October, bringing the total to 6,679,197 since the start of the conservatorships in September 2008. Approximately 39 percent of these actions have been permanent loan modifications.</li><li style="line-height&#58;1.3 !important;">There were 6,500 permanent loan modifications in October, bringing the total to 2,615,055 since the conservatorships began in September 2008.</li><li style="line-height&#58;1.3 !important;">Approximately 57 percent of loan modifications in October involve extend term only. Modifications with principal forbearance accounted for 12 percent of all loan modifications during the month.</li><li style="line-height&#58;1.3 !important;">The number of borrowers who received payment deferrals after completing a COVID-19 related forbearance plan decreased 10 percent from 9,141 in September to 8,200 in October.</li><li style="line-height&#58;1.3 !important;padding-bottom&#58;0px !important;margin-bottom&#58;0px !important;">​Initiated forbearance plans increased from 13,739 in September to 18,432 in October. The total number of loans in forbearance also increased from 78,432 at the end of September to 81,556 at the end of October, representing approximately 0.26 percent of the total loans serviced, and 16 percent of the total delinquent loans.</li></ul> ​ <p style="padding-top&#58;0px !important;padding-bottom&#58;0px !important;margin-bottom&#58;0px !important;font-weight&#58;600 !important;margin-top&#58;0px !important;"> The Enterprises' Mortgage Performance&#58;&#160;</p><div style="padding-top&#58;0px;"><ul><li style="line-height&#58;1.3 !important;margin-top&#58;4px !important;">The 30-59 days delinquency rate increased to 0.85 percent while the serious delinquency rate declined to 0.67 percent at the end of October.</li></ul></div><p style="padding-top&#58;8px !important;padding-bottom&#58;0px !important;margin-bottom&#58;0px !important;font-weight&#58;600 !important;"> The Enterprises' Foreclosures&#58;​<br></p><div style="padding-top&#58;0px;"><ul><li style="line-height&#58;1.3 !important;margin-top&#58;4px !important;">Third-party and foreclosure sales decreased to 1,122 while foreclosure starts increased to 6,192 in October.</li></ul></div><h2 style="padding-top&#58;24px !important;padding-bottom&#58;8px !important;">October​ 2022 Highlights - Refinance Activities</h2><div style="padding-top&#58;0px;"><ul><li style="line-height&#58;1.3 !important;">Total refinance volume decreased in October 2022 amid record high mortgage rates through September. Mortgage rates rose in October&#58; the average interest rate on a 30-year fixed rate mortgage increased to 6.90 percent from a September level of 6.11 percent.</li><li style="line-height&#58;1.3 !important;">The percentage of borrowers refinancing into shorter term 15-year mortgages decreased to 13 percent in October. Interest rate savings of a 15-year mortgage over a 30-year mortgage has been higher in 2022 compared to previous years due to the rising mortgage rates since December 2021. However, the higher monthly cost of a 15-year mortgage compared to the greater affordability of a 30-year mortgage has reduced ​borrower interest in the 15-year mortgage.</li></ul></div>​​<br>1/24/2023 3:00:41 PMHome / About FHFA / Reports / Foreclosure Prevention, Refinance, and Federal Property Manager's Report - October 2022 The Enterprises completed 18,833 foreclosure prevention 1066https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
2023 Scorecard for Fannie Mae, Freddie Mac, and Common Securitization Solutions389411/4/2023 5:00:00 AM<p><span style="font-style&#58;normal;">​Today, the Federal Housing Finance Agency (FHFA) released the 2023 Scorecard for Fannie Mae and Freddie Mac (together, the Enterprises) and their joint venture, Common Securitization Solutions, LLC (CSS). Each year, FHFA releases an annual Scorecard to communicate and provide public awareness of its priorities and expectations for the Enterprises and CSS</span>​.<br></p><p>The two equally weighted objectives of the 2023&#160;Scorecard are for the Enterprises to (1) Promote Sustainable and Equitable Access to Affordable Housing and (2) Operate the Business in a Safe and Sound Manner.&#160;For all Scorecard items, Fannie Mae and Freddie Mac (the Enterprises) and Common Securitization Solutions, LLC (CSS) will be assessed based on the following criteria&#58;&#160;</p><p> <strong>Assessment Criteria</strong></p><ul><li>Each Enterprise’s products and programs foster liquid, competitive, efficient, and resilient housing finance markets that support affordable, sustainable, and equitable access to homeownership and rental housing.&#160;</li><li>Each Enterprise conducts business in a safe and sound manner.&#160;</li><li>Each Enterprise meets expectations under all FHFA requirements, including those pertaining to capital, liquidity, and credit risk transfer.&#160;</li><li>Each Enterprise continues to manage operations while in conservatorship in a manner that preserves and conserves assets through the prudent stewardship of Enterprise resources.&#160;</li><li>Each Enterprise cooperates and collaborates with FHFA to meet the Conservator’s priorities and guidance throughout the course of the year.&#160;</li><li>Each Enterprise delivers work products that are high quality, thorough, creative, effective, and timely, and that consider effects on homeowners, multifamily property owners, and renters, the Enterprises, the industry, and other stakeholders.&#160;</li><li>Each Enterprise ensures that diversity, equity, and inclusion remain top priorities in strategic planning, operations, and business development.</li></ul><div><br></div><div><a href="/Media/PublicAffairs/Pages/FHFA-Releases-2023-Scorecard-for-Fannie-Freddie-and-CSS.aspx">Related News Release</a>​<br></div><div><br></div>1/4/2023 6:00:32 PMHome / About FHFA / Reports / 2023 Scorecard for Fannie Mae, Freddie Mac, and Common Securitization Solutions Today, the Federal Housing Finance Agency (FHFA) released the 2023 2305https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Enterprise Non-Performing Loan Sales - June 20223861512/21/2022 5:00:00 AM<p>​​​The Enterprise Non-Performing Loan Sales Report includes sales information about NPLs sold through June 30, 2022. Borrower outcomes reflect NPLs reported through June 30, 2022&#160;and sold through December 31, 2021.&#160;<br></p><p>The sale of NPLs reduces the number of delinquent loans in the Enterprises' portfolios and transfers credit risk to the private sector. FHFA and the Enterprises impose requirements on NPL buyers designed to achieve more favorable outcomes for borrowers than foreclosure.</p><p>This report shows that the Enterprises sold 155,034 NPLs with a total unpaid principal balance (UPB) of $28.7 billion from program inception in 2014 through June 30, 2022. The loans included in the NPL sales had an average delinquency of 2.8 years and an average current mark-to-market loan-to-value (LTV) ratio of 86 percent (not including capitalized arrearages).<br><a href="/Media/PublicAffairs/Pages/FHFA-Releases-Latest-Report-on-Non-Performing-Loan-Sales_12212022.aspx">​Related News Release​​</a><br></p>12/21/2022 3:00:25 PMHome / About FHFA / Reports / Enterprise Non-Performing Loan Sales - June 2022 Enterprise Non-Performing 1077https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Foreclosure Prevention, Refinance, and FPM Report - 3Q20223812912/20/2022 5:00:00 AM<h2 style="border-color&#58;currentcolor;font-family&#58;lato, sans-serif;font-style&#58;normal;padding-top&#58;8px !important;">​3Q22 Highlights —&#160;Foreclosure Prevention<br></h2><p style="border-color&#58;currentcolor;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-style&#58;normal;margin-top&#58;8px !important;"> <span style="border-color&#58;currentcolor;font-family&#58;inherit;font-size&#58;inherit;font-weight&#58;700 !important;">The Enterprises' Foreclosure Prevention Actions&#58;</span></p><ul><li style="line-height&#58;1.4 !important;"><p>The Enterprises completed 69,362 foreclosure prevention actions in the third quarter of 2022, bringing the total to 6,660,364 since the start of conservatorships in September 2008. Of these actions, 5,956,240 have helped troubled homeowners stay in their homes, including 2,608,555 permanent loan modifications.</p></li><li style="line-height&#58;1.4 !important;"><p>Initiated forbearance plans increased to 41,856 in the third quarter from 41,054 in the second quarter of 2022. The total number of loans in forbearance at the end of the quarter was 78,432, representing approximately 0.25 percent of the total loans serviced, and 16 percent of the total delinquent loans.</p></li><li style="line-height&#58;1.4 !important;"><p>Eleven percent of modifications in the third quarter were modifications with principal forbearance. Modifications that include reduce rate and extend-term accounted for 56 percent of all loan modifications during the quarter.</p></li><li style="line-height&#58;1.4 !important;"><p>There were 171 completed short sales and deeds-in-lieu during the quarter, bringing the total to 704,124 since the conservatorships began in September 2008.</p></li></ul><p style="border-color&#58;currentcolor;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-style&#58;normal;"> <span style="border-color&#58;currentcolor;font-family&#58;inherit;font-size&#58;inherit;font-weight&#58;700 !important;">The Enterprises' Mortgage Performance&#58;</span></p><ul><li style="line-height&#58;1.4 !important;"><p>The 60+ days delinquency rate dropped from 0.92 percent at the end of the second quarter to 0.83 percent at the end of the third quarter of 2022. The delinquency rates remained slightly higher than pre-coronavirus rates due to the forbearance programs offered to borrowers affected by the pandemic.</p></li><li style="line-height&#58;1.4 !important;"><p>The Enterprises' serious (90 days or more) delinquency rate dropped to 0.68 percent at the end of the third quarter. This compared with 4.26 percent for Federal Housing Administration (FHA) loans, 2.51 percent for Veterans Affairs (VA) loans, and 1.90 percent for all loans (industry average).</p></li></ul><p style="border-color&#58;currentcolor;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-style&#58;normal;"> <span style="border-color&#58;currentcolor;font-family&#58;inherit;font-size&#58;inherit;font-weight&#58;700 !important;">The Enterprises' Foreclosures&#58;</span></p><ul><li style="line-height&#58;1.4 !important;"><p>Foreclosure starts declined 11 percent to 17,327 while third-party and foreclosure sales increased 3 percent to 3,566 in the third quarter.</p></li></ul><blockquote style="border-color&#58;currentcolor;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;font-style&#58;normal;font-weight&#58;400;margin-left&#58;40px;"><p style="border-color&#58;currentcolor;"> <em style="border-color&#58;currentcolor;">​For an interactive online map that provides state data, click on the following link&#58;&#160;</em></p><p style="border-color&#58;currentcolor;"> <em style="border-color&#58;currentcolor;"></em><a href="/DataTools/Tools/Pages/Borrower-Assistance-Map.aspx" style="border-color&#58;currentcolor;font-family&#58;&quot;source sans pro&quot;, sans-serif;">Fannie Mae and Freddie Mac State Borrower Assistance Map</a>​<br></p></blockquote> <span style="color&#58;#444444;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-style&#58;normal;">​</span><span style="color&#58;#444444;font-style&#58;normal;"></span> <h2 style="border-color&#58;currentcolor;font-family&#58;lato, sans-serif;font-style&#58;normal;padding-bottom&#58;8px !important;">3Q22&#160;Highlights ​— Refinance Activities​​<br></h2><ul><li style="line-height&#58;1.4 !important;"><p>Total refinance volume decreased in September 2022 due to the increase in mortgage rates through August. Mortgage rates continued to increase in September&#58; the average interest rate on a 30-year fixed rate mortgage increased to 6.11 percent from an August level of 5.22 percent.</p></li><li style="line-height&#58;1.4 !important;padding-bottom&#58;0px !important;margin-bottom&#58;0px !important;"><p style="padding-bottom&#58;0px !important;margin-bottom&#58;0px !important;">The percentage of borrowers refinancing into shorter term 15-year fixed rate mortgages increased to 15 percent in September as the difference between 15- and 30-year fixed rate mortgages decreased to 0.66 percent in August.</p>​</li></ul><p style="margin-top&#58;0px !important;margin-bottom&#58;12px !important;">​ <a href="/Media/PublicAffairs/Pages/FHFA-Releases-3rd-Quarter-2022-Foreclosure-Prevention-and-Refinance-Report.aspx">Related News Release</a></p>12/20/2022 3:00:29 PMHome / About FHFA / Reports / Foreclosure Prevention, Refinance, and FPM Report - 3Q2022 Foreclosure 1027https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Foreclosure Prevention, Refinance, and Federal Property Manager's Report - August 20223787511/10/2022 5:00:00 AM<h2 style="padding-bottom&#58;10px !important;padding-top&#58;8px !important;">August 2022&#160;Highlights - Foreclosure Prevention<br></h2><p style="padding-top&#58;0px !important;padding-bottom&#58;0px !important;margin-bottom&#58;0px !important;font-weight&#58;600 !important;">The Enterprises' Foreclosure Prevention Actions&#58;​<br></p><ul><li style="line-height&#58;1.3 !important;padding-top&#58;4px !important;margin-top&#58;4px !important;">The Enterprises completed 24,603 foreclosure prevention actions in August, bringing the total to 6,639,479 since the start of the conservatorships in September 2008. Approximately 39 percent of these actions have been permanent loan modifications.</li><li style="line-height&#58;1.3 !important;">There were 9,090 permanent loan modifications in August, bringing the total to 2,601,031 since the conservatorships began in September 2008.</li><li style="line-height&#58;1.3 !important;">Approximately 58 percent of loan modifications in August include &quot;reduce rate&quot; and &quot;extend-term&quot;. Modifications with principal forbearance accounted for 11 percent of all loan modifications during the month.</li><li style="line-height&#58;1.3 !important;">The number of borrowers who received payment deferrals after completing a COVID-19 related forbearance plan increased 2 percent from 10,631 in July to 10,856 in August.</li><li style="line-height&#58;1.3 !important;padding-bottom&#58;0px !important;margin-bottom&#58;0px !important;">​Initiated forbearance plans increased from 13,453 in July to 14,664 in August. The total number of loans in forbearance decreased from 84,385 at the end of July to 80,494 at the end of August, representing approximately 0.26 percent of the total loans serviced, and 16 percent of the total delinquent loans.</li></ul> ​ <p style="padding-top&#58;0px !important;padding-bottom&#58;0px !important;margin-bottom&#58;0px !important;font-weight&#58;600 !important;margin-top&#58;0px !important;"> The Enterprises' Mortgage Performance&#58;&#160;</p><div style="padding-top&#58;0px;"><ul><li style="line-height&#58;1.3 !important;margin-top&#58;4px !important;">The 30-59 day delinquency rate decreased to 0.76 percent while the serious delinquency rate declined to 0.71 percent at the end of August.</li></ul></div><p style="padding-top&#58;8px !important;padding-bottom&#58;0px !important;margin-bottom&#58;0px !important;font-weight&#58;600 !important;"> The Enterprises' Foreclosures&#58;​<br></p><div style="padding-top&#58;0px;"><ul><li style="line-height&#58;1.3 !important;margin-top&#58;4px !important;">Third-party and foreclosure sales decreased slightly to 1,165 while foreclosure starts increased 15 percent to 6,248 in August.</li></ul></div><h2 style="padding-top&#58;24px !important;padding-bottom&#58;8px !important;">August 2022 Highlights - Refinance Activities</h2><div style="padding-top&#58;0px;"><ul><li style="line-height&#58;1.3 !important;">Total refinance volume decreased in August 2022 amid higher mortgage rates through July. Mortgage rates fell in August&#58; the average interest rate on a 30-year fixed rate mortgage decreased to 5.22 percent from a July level of 5.41 percent.</li><li style="line-height&#58;1.3 !important;">The percentage of borrowers refinancing into shorter term 15-year fixed rate mortgages decreased to 14 percent in August as the difference between 15- and 30-year fixed rate mortgages decreased to 0.80 percent in July. While the interest rate savings of a 15-year fixed mortgage over a 30-year mortgage has been higher in 2022 compared to previous years, a sharp rise in mortgage rates since December has acted as an additional disincentive against the higher monthly cost of a 15-year fixed rate mortgage compared to the greater monthly affordability of 30-year fixed rate mortgage.</li></ul></div>​<br>​<br>​<br>11/10/2022 4:00:37 PMHome / About FHFA / Reports / Foreclosure Prevention, Refinance, and Federal Property Manager's Report - August 2022 The Enterprises completed 24,603 foreclosure prevention 1233https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Foreclosure Prevention, Refinance, and Federal Property Manager's Report - July 20223846110/13/2022 4:00:00 AM<h2 style="padding-bottom&#58;10px !important;padding-top&#58;8px !important;">​July 2022&#160;Highlights - Foreclosure Prevention<br></h2><p style="padding-top&#58;0px !important;padding-bottom&#58;0px !important;margin-bottom&#58;0px !important;font-weight&#58;600 !important;">The Enterprises' Foreclosure Prevention Actions&#58;​<br></p><ul><li style="line-height&#58;1.3 !important;padding-top&#58;4px !important;margin-top&#58;4px !important;">The Enterprises completed 23,874 foreclosure prevention actions in July, bringing the total to 6,614,876 since the start of the conservatorships in September 2008. Approximately 39 percent of these actions have been permanent loan modifications.<br></li><li style="line-height&#58;1.3 !important;">There were 8,925 permanent loan modifications in July, bringing the total to 2,591,941 since the conservatorships began in September 2008.</li><li style="line-height&#58;1.3 !important;">Approximately 65 percent of loan modifications in July include reduce rate and extend-term. Modifications with principal forbearance accounted for 11 percent of all loan modifications during the month.</li><li style="line-height&#58;1.3 !important;">The number of borrowers who received payment deferrals after completing a COVID-19 related forbearance plan decreased 17 percent from 12,816 in June to 10,631 in July.</li><li style="line-height&#58;1.3 !important;padding-bottom&#58;0px !important;margin-bottom&#58;0px !important;">​Initiated forbearance plans increased from 14,410 in June to 13,453 in July. The total number of loans in forbearance decreased from 90,889 at the end of June to 84,385 at the end of July, representing approximately 0.27 percent of the total loans serviced, and 16 percent of the total delinquent loans.</li></ul> ​ <p style="padding-top&#58;0px !important;padding-bottom&#58;0px !important;margin-bottom&#58;0px !important;font-weight&#58;600 !important;margin-top&#58;0px !important;"> The Enterprises' Mortgage Performance&#58;&#160;</p><div style="padding-top&#58;0px;"><ul><li style="line-height&#58;1.3 !important;margin-top&#58;4px !important;">The 30-59 days delinquency rate increased to 0.84 percent while the serious delinquency rate declined to 0.75 percent at the end of July.<br></li></ul></div><p style="padding-top&#58;8px !important;padding-bottom&#58;0px !important;margin-bottom&#58;0px !important;font-weight&#58;600 !important;"> The Enterprises' Foreclosures&#58;​<br></p><div style="padding-top&#58;0px;"><ul><li style="line-height&#58;1.3 !important;margin-top&#58;4px !important;">​Third-party and foreclosure sales decreased to 1,176 while foreclosure starts declined to 5,424 in July.</li></ul></div><h2 style="padding-top&#58;24px !important;padding-bottom&#58;8px !important;">July 2022 Highlights - Refinance Activities</h2><div style="padding-top&#58;0px;"><ul><li style="line-height&#58;1.3 !important;">Total refinance volume decreased in July 2022 amid rising mortgage rates through June. Mortgage rates fell in July&#58; the average interest rate on a 30-year fixed rate mortgage decreased to 5.41 percent from a July level of 5.52 percent, representing levels last observed in 2008.</li><li style="line-height&#58;1.3 !important;">The percentage of borrowers refinancing into shorter term 15-year fixed rate mortgages decreased to 17 percent in July, with borrowers finding the greater monthly affordability of 30-year fixed rate mortgages amid rising rates more attractive than the increased interest rate savings of 15-year fixed rate mortgages which inched toward one percent.<br></li></ul></div>​<br>​<br>10/13/2022 2:00:22 PMHome / About FHFA / Reports / Foreclosure Prevention, Refinance, and Federal Property Manager's Report - July 2022 The Enterprises completed 23,874 foreclosure prevention 1182https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Foreclosure Prevention, Refinance, and FPM Report - 2Q2022361819/22/2022 4:00:00 AM<h2 style="border-color&#58;currentcolor;font-family&#58;lato, sans-serif;font-style&#58;normal;padding-top&#58;8px !important;">​​​​2Q22 Highlights —&#160;Foreclosure Prevention<br></h2><p style="border-color&#58;currentcolor;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-style&#58;normal;margin-top&#58;8px !important;"> <span style="border-color&#58;currentcolor;font-family&#58;inherit;font-size&#58;inherit;font-weight&#58;700 !important;">The Enterprises' Foreclosure Prevention Actions&#58;</span></p><ul><li style="line-height&#58;1.4 !important;"><p>The Enterprises completed 96,945 foreclosure prevention actions in the second quarter of 2022, bringing the total to 6,591,002 since the start of conservatorships in September 2008. Of these actions, 5,887,049 have helped troubled homeowners stay in their homes, including 2,583,016 permanent loan modifications.</p></li><li style="line-height&#58;1.4 !important;"><p>Initiated forbearance plans decreased to 41,054 in the second quarter from 59,778 in the first quarter of 2022. The total number of loans in forbearance at the end of the quarter was 90,889, representing approximately 0.29 percent of the total loans serviced, and 17 percent of the total delinquent loans.</p></li><li style="line-height&#58;1.4 !important;"><p>Seven percent of modifications in the second quarter were modifications with principal forbearance. Modifications that include reduce rate and extend-term accounted for 75 percent of all loan modifications during the quarter.</p></li><li style="line-height&#58;1.4 !important;"><p>​There were 250 completed short sales and deeds-in-lieu during the quarter, bringing the total to 703,953 since the conservatorships began in September 2008.</p></li></ul><p style="border-color&#58;currentcolor;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-style&#58;normal;"> <span style="border-color&#58;currentcolor;font-family&#58;inherit;font-size&#58;inherit;font-weight&#58;700 !important;">The Enterprises' Mortgage Performance&#58;</span></p><ul><li style="line-height&#58;1.4 !important;"><p>The 60+ days delinquency rate dropped from 1.11 percent at the end of the first quarter to 0.92 percent at the end of the second quarter of 2022. The delinquency rates remained higher than pre-coronavirus rates due to the forbearance programs offered to borrowers affected by the pandemic.</p></li><li style="line-height&#58;1.4 !important;"><p>The Enterprises' s​erious (90 days or more) delinquency rate dropped to 0.79 percent at the end of the second quarter. This compared with 4.64 percent for Federal Housing Administration (FHA) loans, 2.83 percent for Veterans Affairs (VA) loans, and 2.12 percent for all loans (industry average).</p></li></ul><p style="border-color&#58;currentcolor;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-style&#58;normal;"> <span style="border-color&#58;currentcolor;font-family&#58;inherit;font-size&#58;inherit;font-weight&#58;700 !important;">The Enterprises' Foreclosures&#58;</span></p><ul><li style="line-height&#58;1.4 !important;"><p>Foreclosure starts declined 6 percent to 19,388 while third-party and foreclosure sales increased 3 percent to 3,458 in the second quarter.</p></li></ul><blockquote style="border-color&#58;currentcolor;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;font-style&#58;normal;font-weight&#58;400;margin-left&#58;40px;"><p style="border-color&#58;currentcolor;"> <em style="border-color&#58;currentcolor;">​For an interactive online map that provides state data, click on the following link&#58;&#160;</em></p><p style="border-color&#58;currentcolor;"> <em style="border-color&#58;currentcolor;"></em><a href="/DataTools/Tools/Pages/Borrower-Assistance-Map.aspx" style="border-color&#58;currentcolor;font-family&#58;&quot;source sans pro&quot;, sans-serif;">Fannie Mae and Freddie Mac State Borrower Assistance Map</a>​<br></p></blockquote> <span style="color&#58;#444444;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-style&#58;normal;">​</span><span style="color&#58;#444444;font-style&#58;normal;"></span> <h2 style="border-color&#58;currentcolor;font-family&#58;lato, sans-serif;font-style&#58;normal;padding-bottom&#58;8px !important;">2Q22&#160;Highlights ​— Refinance Activities​​<br></h2><ul><li style="line-height&#58;1.4 !important;"><p>Total refinance volume decreased in June 2022 amid rising mortgage rates through May. Mortgage rates rose in June&#58; the average interest rate on a 30-year fixed rate mortgage increased to 5.52 percent from a April level of 5.23 percent, reaching levels last observed in 2008.</p></li><li style="line-height&#58;1.4 !important;padding-bottom&#58;0px !important;margin-bottom&#58;0px !important;"><p style="padding-bottom&#58;0px !important;margin-bottom&#58;0px !important;">The percentage of borrowers refinancing into shorter term 15-year fixed rate mortgages decreased to 18 percent in May, with borrowers finding the greater monthly affordability of 30-year fixed rate mortgages amid rising rates more attractive than the increased interest rate savings of 15-year fixed rate mortgages which inched toward one percent.</p>​</li></ul> <p style="margin-top&#58;0px !important;margin-bottom&#58;12px !important;">​ <a href="/Media/PublicAffairs/Pages/FHFA-Releases-2nd-Quarter-2022-Foreclosure-Prevention-and-Refinance-Report.aspx">Related News Release</a></p>9/22/2022 5:00:11 PMHome / About FHFA / Reports / Foreclosure Prevention, Refinance, and FPM Report - 2Q2022 Foreclosure 1100https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx

​Note: Some of FHFA’s reports have evolved over time. On December 2, 2008, FHFA submitted the first Federal Property Manager’s Report to Congress and until May 2012 these reports included refinance activity.  After May 2012, the Federal Property Manager’s Report contained the same content as the monthly and quarterly Foreclosure Prevention Reports, so the Federal Property Manager’s Report was no longer released separately.

View Federal Property Manager’s Reports from December 2008 – April 2012.

View Refinance Reports.


 

CONSERVATORSHIP DATASETS

Treasury and Federal Reserve Purchase Programs for GSE and Mortgage-Related Securities
© 2023 Federal Housing Finance Agency
Contact Us Mobile

Want to Subscribe?

© 2023 Federal Housing Finance Agency