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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.



 

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 Recent Conservatorship Reports

 

 

Credit Risk Transfer Progress Report 4Q2019312244/3/2020 4:00:00 AM<p>​The Report provides a comprehensive picture of how Fannie Mae and Freddie Mac (the Enterprises) transfer a substantial portion of credit risk to the private sector through a variety of transactions in both the single-family and multifamily markets. </p><p>From the beginning of the Enterprises’ Single-Family CRT programs in 2013 through the end of 2019, Fannie Mae and Freddie Mac have transferred a portion of credit risk on $3.5 trillion of unpaid principal balance (UPB), with a combined Risk in Force (RIF) of about $115 billion, or 3.3 percent of UPB. An additional $1.6 trillion of UPB and $398 billion of RIF has been transferred to primary mortgage insurers from 2013 through the end of 2019.</p><p>Through the end of 2019, Fannie Mae and Freddie Mac transferred 85 percent and 89 percent, respectively, of the allocated credit risk capital on 2018 acquisitions covered by credit risk transfer.</p>4/3/2020 7:00:22 PMHome / About FHFA / Reports / Credit Risk Transfer Progress Report 4Q2019 Credit Risk Transfer Progress 240https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Foreclosure Prevention, Refinance and FPM Report - Fourth Quarter 2019304483/24/2020 4:00:00 AM<h2>​​​​​​​4Q19 Highlights —&#160;Foreclosure Prevention<br></h2><p> <strong>The Enterprises' Foreclosure Prevention Actions&#58;</strong></p><ul><li>The Enterprises completed 25,930 foreclosure prevention actions in the fourth quarter, bringing the total to 4,406,966 since the start of conservatorships in September 2008. Of these actions, 3,709,440 have helped troubled homeowners&#160;stay in their homes, including 2,390,082 permanent loan modifications.</li><li>Twenty-six percent of modifications in the fourth quarter were modifications with principal forbearance. Modifications with extend-term only accounted for 65 percent of all loan modifications during the quarter.</li><li>There were 1,272 completed short sales and deeds-in-lieu during the quarter, bringing the total to 697,526 since the conservatorships began in September 2008.​<br><br></li></ul><p> <strong>The Enterprises' Mortgage Performance&#58;</strong></p><ul><li>The percentage of 60+ days delinquent loans remained unchanged at 0.96&#160;percent at the end of the fourth quarter from third quarter of 2019.</li><li>The Enterprises' serious (90 days or more) delinquency rate remained&#160;unchanged at 0.65 percent at the end of the fourth quarter. This compared with 3.47 percent for Federal Housing Administration (FHA) loans, 1.92 percent for&#160;Veterans Affairs (VA) loans, and 1.76 percent for all loans (industry average).​<br><br></li></ul><p> <strong>The Enterprises' Foreclosures&#58;</strong></p><ul><li>​Foreclosure starts increased slightly to 30,010 while third-party and foreclosure sales decreased 12 percent to 8,474 in the fourth quarter.</li></ul><blockquote style="margin&#58;0px 0px 0px 40px;border&#58;none;padding&#58;0px;"><p> <em>​For an interactive online map that provides state data, click on the following link&#58;&#160;</em></p><p> <em></em> <a href="/DataTools/Tools/Pages/Borrower-Assistance-Map.aspx" style="font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;">Fannie Mae and Freddie Mac State Borrower Assistance Map</a>​<br></p></blockquote><p></p>​ <h2>4Q19 Highlights ​— Refinance Activities​​ <p></p></h2><ul><li> <span style="color&#58;#444444;">​​Total refinance volume increased in December 2019 as mortgage rates rose in&#160;previous months but remained near lows last observed in 2015. Mortgage rates&#160;increased in December&#58; the average interest rate on a 30-year fixed rate&#160;mortgage rose to 3.72 percent from 3.70 percent in November.</span></li><li>In the fourth quarter of 2019, 9 refinances were completed through the High&#160;LTV Refinance Option, bringing total refinances through the High LTV Refinance Option from the inception of the program to 11.</li><li>The percentage of cash-out refinances increased to 42 percent in December&#160;but remained well below the peak observed in late 2018. Mortgage rates have&#160;fallen from the highs observed a year ago to lows last observed in 2015, creating&#160;more opportunities for non cash-out borrowers to refinance at lower rates and lower their monthly payments.<br></li></ul><div> <a href="/Media/PublicAffairs/Pages/More-Than-4pt4-Million-Homeowners-Helped-Since-Conservatorship.aspx">Related News Release</a>​<br></div>3/24/2020 9:21:03 PMHome / About FHFA / Reports / Foreclosure Prevention, Refinance and FPM Report - Fourth Quarter 2019 The Enterprises completed 25,930 foreclosure prevention actions in the 293https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Foreclosure Prevention Refinance and FPM Report November 2019304122/14/2020 5:00:00 AM<h3>November&#160;2019 Highlights -- Foreclosure Prevention</h3><p> <strong>The Enterprises' Foreclosure Prevention Actions&#58;</strong></p><ul style="list-style-type&#58;disc;"><li><p>The Enterprises completed 8,156 foreclosure prevention actions in November, bringing the total to 4,398,274 since the start of the conservatorships in September 2008. Over half of these actions have been permanent loan modifications.</p></li><li><p>There were 4,851 permanent loan modifications in November, bringing the total to 2,384,609 since the conservatorships began in September 2008.</p></li><li><p>Twenty-eight percent of modifications in November were modifications with principal forbearance. Modifications with extend-term only accounted for&#160;63 percent of all loan modifications during the month.</p></li><li><p>There were&#160;424 short sales and deeds-in-lieu of foreclosure completed in November,&#160;down 17 percent compared with October.</p></li></ul><p> <strong>The Enterprises' Mortgage Performance&#58;</strong></p><ul><li><p>The serious delinquency rate decreased slightly&#160;from 0.65 percent at the end of October to 0.64 percent at the end of November.</p></li></ul><p> <strong>The Enterprises' Foreclosures&#58;</strong></p><ul style="list-style-type&#58;disc;"><li><p>Third-party and foreclosure sales decreased&#160;13 percent from 3,174 in October to 2,763 in November.</p></li><li><p>Foreclosure starts decreased&#160;slightly&#160;from 9,678 in October to 9,662 in November.</p></li></ul><p> <strong>November 2019 Highlights -- Refinance Activities</strong></p><ul style="list-style-type&#58;disc;"><li><p>Total refinance volume decreased in&#160;November 2019 as mortgage rates&#160;rose in previous months but remained near lows last observed in 2015. Mortgage rates increased in November&#58; the average interest rate on a 30-year fixed rate mortgage rose to 3.70 percent from 3.60 percent in October.</p></li><li><p>The percentage of cash-out refinances increased to 40 percent in November but remained well below the peak observed in late 2018. Mortgage rates have fallen from the highs observed a year ago to lows last observed in 2015, creating more opportunities for non cash-out borrowers to refinance at lower rates and lower their monthly payments.</p></li><li><p>In November 2019,&#160;3 refinances were completed through the High LTV Refinance Option, bringing total refinances through the High LTV Refinance Option from the inception of the program to 7.</p></li></ul>2/14/2020 6:49:33 PMHome / About FHFA / Reports / Foreclosure Prevention Refinance and FPM Report November 2019 Foreclosure 428https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Prepayment Monitoring Report - Fourth Quarter 2019304032/12/2020 5:00:00 AM<p>On June 3, 2019, Fannie Mae and Freddie Mac began issuing a new common mortgage-backed security, known as the Uniform Mortgage-Backed Securities or UMBS, through their jointly developed Common Securitization Platform, bringing to fruition important elements of FHFA's <a href="/AboutUs/Reports/Pages/2014-Conservatorships-Strategic-Plan.aspx">2014 Strategic Plan for the Conservatorships of</a>&#160;<a href="/AboutUs/Reports/Pages/2014-Conservatorships-Strategic-Plan.aspx">Fannie Mae and Freddie Mac</a>.&#160; On March 12, 2019 forward trading of UMBS began in the “To-Be-Announced&quot; (TBA) market <a href="#footNote1">[1]</a>, with first settlements of the UMBS trades coinciding with their initial issuance by the Enterprises on June 3, 2019.</p><p>FHFA encouraged Fannie Mae and Freddie Mac to develop this new security to broaden and enhance liquidity in the secondary market for residential mortgages and to reduce costs to taxpayers.<a href="#footNote2">[2]</a>&#160; To address those goals, UMBS issued by Fannie Mae and Freddie Mac trade in the TBA market without regard to which Enterprise is the issuer, effectively merging the formerly separate markets for mortgage-backed securities issued by each Enterprise. </p><p>Consistency of prepayment rates is important to the success of UMBS and to the efficiency and liquidity of the secondary mortgage market.&#160; Some industry stakeholders have expressed concern that the rates of prepayment of the Enterprises' securities might materially diverge and undermine their fungibility.&#160; FHFA has taken a number of steps to promote the continued consistency of prepayment rates of Fannie Mae- and Freddie Mac-issued mortgage-backed securities (MBS).&#160; This quarterly report provides market participants additional transparency into a sample of the data FHFA receives and reviews on a monthly basis.</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.&#160; This report provides insight into how FHFA monitors the consistency of prepayment rates across cohorts of the Enterprises' TBA-eligible MBS,<a href="#footNote3">[3]</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.&#160; A prepayment on a mortgage loan is the amount of principal paid in advance of the loan's scheduled payments. &#160;Full prepayment occurs when a borrower pays off the loan ahead of the scheduled maturity.&#160; If a borrower defaults on the mortgage loan, the Enterprise will pay investors the remaining principal balance and remove the loan from the MBS.&#160; That action has the same effect on investors as a full prepayment. &#160;Partial prepayment occurs when a borrower pays principal in addition to the regularly scheduled payment of principal and interest. <br></p><p> <a name="footNote1">[1]</a> The TBA market is a forward market for certain mortgage-backed securities, including those issued by Fannie Mae and Freddie Mac.</p><p> <a name="footNote2">[2]</a> See <a href="/AboutUs/Reports/ReportDocuments/Single%20Security%20Update%20final.pdf"><span style="text-decoration&#58;underline;"><em>An Update on the Structure of the Single Security</em></span></a>, May 2015, p. 4</p><p> <a name="footNote3">[3]</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 in which case multi-lender second-level securitizations are included.&#160;&#160;&#160;</p>2/14/2020 6:48:51 PMHome / About FHFA / Reports / Prepayment Monitoring Report - Fourth Quarter 2019 Prepayment Monitoring 917https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Foreclosure Prevention Refinance and FPM Report October 2019303372/3/2020 5:00:00 AM<h3>October 2019 Highlights -- Foreclosure Prevention</h3><p><strong>The Enterprises' Foreclosure Prevention Actions&#58;</strong></p><ul style="list-style-type&#58;disc;"><li><p>The Enterprises completed 9,082 foreclosure prevention actions in October, bringing the total to 4,390,118 since the start of the conservatorships in September 2008. Over half of these actions have been permanent loan modifications.</p></li><li><p>There were 5,801 permanent loan modifications in October, bringing the total to 2,379,758 since the conservatorships began in September 2008.</p></li><li><p>Twenty-six percent of modifications in October were modifications with principal forbearance. Modifications with extend-term only accounted for 67 percent of all loan modifications during the month.</p></li><li><p>There were 508 short sales and deeds-in-lieu of foreclosure completed in October, up 17 percent compared with September.</p></li></ul><p><strong>The Enterprises' Mortgage Performance&#58;</strong></p><ul><li><p>The serious delinquency rate remained unchanged at 0.65 percent at the end of October from September.</p></li></ul><p><strong>The Enterprises' Foreclosures&#58;</strong></p><ul style="list-style-type&#58;disc;"><li><p>Third-party and foreclosure sales increased 5 percent from 3,021 in September to 3,174 in October.</p></li><li><p>Foreclosure starts decreased from 10,975 in September to 9,678 in October.</p></li></ul><p><strong>October 2019 Highlights -- Refinance Activities</strong></p><ul style="list-style-type&#58;disc;"><li><p>Total refinance volume increased in October 2019 as mortgage rates fell in previous months to lows last observed in 2015. Mortgage rates increased in October&#58; the average interest rate on a 30-year fixed rate mortgage rose to 3.69 percent from 3.61 percent in September.</p></li><li><p>In October 2019, the percentage of cashout refinances decreased to 38 percent as mortgage rates fell in previous months, creating more opportunities for non cashout borrowers to refinance at lower rates and lower their monthly payments.</p></li><li><p>In October 2019, 2 refinances were completed through the High LTV Refinance Option, bringing total refinances through the High LTV Refinance Option from the inception of the program to 4.</p></li></ul>2/3/2020 10:13:06 PMHome / About FHFA / Reports / Foreclosure Prevention Refinance and FPM Report October 2019 Foreclosure 406https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Foreclosure Prevention, Refinance and FPM Report - Third Quarter 2019302151/9/2020 5:00:00 AM<h1>​​THIRD Quarter 2019 Highlights -&#160;Foreclosure Prevention<br></h1><p><strong>The Enterprises' Foreclosure Prevention Actions&#58;</strong></p><ul><li>The Enterprises completed 26,475 foreclosure prevention actions in the third quarter, bringing the total to 4,381,036 since the start of conservatorships in September 2008. Of these actions, 3,684,782 have helped troubled homeowners stay in their homes, including 2,373,957 permanent loan modifications.</li><li>Twenty-eight percent of modifications in the third quarter were modifications with principal forbearance. Modifications with&#160;extend-term only accounted for 66 percent of all loan modifications during the quarter.</li><li>There were 1,315 completed short sales and deeds-in-lieu during the quarter, bringing the total to 696,254 since the conservatorships began in September 2008.</li></ul><p><strong>The Enterprises' Mortgage Performance&#58;</strong></p><ul><li>The percentage of 60+ days delinquent loans dropped from 1.00 percent at the end of the second quarter to 0.96 percent at the end of the third quarter of 2019.</li><li>The Enterprises' serious (90 days or more) delinquency rate decreased to 0.65 percent at the end of the third quarter. This compared with 3.39 percent for Federal Housing Administration (FHA) loans, 1.87 percent for Veterans Affairs (VA) loans, and 1.81 percent for all loans (industry average).</li></ul><p><strong>The Enterprises' Foreclosures&#58;</strong><br></p><ul><li>Foreclosure starts increased 2 percent to 29,970 while third-party and foreclosure sales decreased 5 percent to 9,670 in the third quarter.</li></ul><h1>​third quarter 2019 Highlights - Refinance Activities<br></h1><ul><li>Total refinance volume increased in September 2019 as mortgage rates fell in previous months to lows last obsereved in 2015. Mortgage rates decreased in September&#58; the average interest rate on a 30-year fixed rate mortgage fell to 3.61&#160;percent from 3.62 percent in August.</li></ul><p><strong>In The Third Quarter of 2019&#58;</strong><br></p><ul><li>Borrowers completed 6 refinances through HARP, bringing total refinances from the inception of the program to 3,495,413.</li><li>HARP volume represented less than 1 percent of total refinance volume.</li><li>Borrowers who refinanced through HARP had a lower delinquency rate compared to borrowers eligible for HARP who did not refinance through the program.</li></ul><p><a href="/Media/PublicAffairs/Pages/Nearly-4pt4-Million-Homeowners-Helped-Since-Conservatorship.aspx">Related News Release</a><br></p><p>For an interactive online map that provides state data, click on the following link&#58;&#160; <em><a href="/DataTools/Tools/Pages/Borrower-Assistance-Map.aspx">Fannie Mae and Freddie Mac State Borrower Assistance Map.</a></em><br></p>1/9/2020 6:00:38 PMHome / About FHFA / Reports / Foreclosure Prevention, Refinance and FPM Report - Third Quarter 2019 The Enterprises completed 26,475 foreclosure prevention actions in the third 561https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Enterprise Non-Performing Loan Sales Report - June 20193010912/2/2019 5:00:00 AM<p>The Federal Housing Finance Agency (FHFA) today released its semiannual report&#160;providing information about the sale of non-performing loans (NPLs) by Fannie Mae and Freddie Mac (the Enterprises).&#160; The <a href="/AboutUs/Reports/ReportDocuments/June-2019_NPL-Sales-Report.pdf"> <em> Enterprise Non-Performing Loan Sales Report</em>&#160;</a>includes information about NPLs sold through June 30, 2019 and reflects borrower outcomes on NPLs sold through December 2018 and reported through June 30, 2019.&#160; The sale of NPLs reduces the number of delinquent loans in the Enterprises' portfolios.&#160; FHFA and the Enterprises impose <a href="/Media/PublicAffairs/Pages/Non-Performing-Loan-Sale-Guidelines.aspx"> requirements</a> on NPL buyers designed to achieve more favorable outcomes for borrowers than&#160;foreclosure.&#160;&#160;This report shows that, through June 30, 2019, the Enterprises sold 117,466 NPLs representing a total unpaid principal balance (UPB) of $22.2 billion.</p><p> <em><a href="/Media/PublicAffairs/Pages/FHFA-Releases-Report-on-Non-performing-Loan-Sales_12-2019.aspx">Related News Release</a></em></p>12/2/2019 6:00:45 PMHome / About FHFA / Reports / Enterprise Non-Performing Loan Sales Report - June 2019 Enterprise 675https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Credit Risk Transfer Progress Report 2Q20192574811/12/2019 5:00:00 AM<p style="font-style&#58;normal;">​The Report provides a comprehensive picture of how Fannie Mae and Freddie Mac (the Enterprises) transfer a substantial portion of credit risk to the private sector through a variety of transactions in both the single-family and multifamily markets.&#160;<br></p><font color="#000000" face="Times New Roman" size="3"></font><font color="#000000" face="Times New Roman" size="3"></font><font color="#000000" face="Times New Roman" size="3"></font><font color="#000000" face="Times New Roman" size="3"></font><p style="font-style&#58;normal;">From the beginning of the Enterprises' Single-Family CRT programs in 2013 through the second quarter&#160;of 2019,&#160;Fannie Mae and Freddie Mac&#160;have transferred a portion of credit risk on $3.1&#160;trillion of unpaid principal balance (UPB), with a combined Risk in Force (RIF) of about $102&#160;billion, or 3.3 percent of UPB. An additional $1.4&#160;trillion of UPB and $346&#160;billion of RIF has been transferred to primary mortgage insurers from 2013 through the second quarter&#160;of 2019.&#160;Through CRT and mortgage insurance, the majority of the underlying mortgage credit risk on mortgages targeted for CRT has been transferred to private investors.<br></p><p><a href="/Media/PublicAffairs/Pages/FHFA-Updates-Progress-on-FNM-and-FRE-Transfer-Programs-111219.aspx">Related News Release</a>​<br></p>11/12/2019 6:00:47 PMHome / About FHFA / Reports / Credit Risk Transfer Progress Report 2Q2019 Credit Risk Transfer Progress 974https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Foreclosure Prevention, Refinance and FPM Report - August 20193284211/8/2019 5:00:00 AM<h3 style="margin&#58;0px;font-weight&#58;900;font-family&#58;lato, sans-serif;color&#58;#404040;font-size&#58;20px;border&#58;0px;font-stretch&#58;inherit;vertical-align&#58;baseline;padding&#58;0px;background-color&#58;#ffffff;">​August 2019&#160;Highlights -- Foreclosure Prevention&#160;<br></h3><p style="border&#58;0px;font-stretch&#58;inherit;font-size&#58;14px;line-height&#58;22px;font-family&#58;&quot;source sans pro&quot;, sans-serif;vertical-align&#58;baseline;padding&#58;0px;background-color&#58;#ffffff;color&#58;#404040 !important;"><span style="border&#58;0px;font-style&#58;inherit;font-variant&#58;inherit;font-stretch&#58;inherit;font-size&#58;inherit;line-height&#58;inherit;font-family&#58;inherit;vertical-align&#58;baseline;margin&#58;0px;padding&#58;0px;font-weight&#58;700 !important;">The Enterprises' Foreclosure Prevention Actions&#58;</span></p><ul style="border&#58;0px;font-stretch&#58;inherit;font-size&#58;14px;line-height&#58;inherit;font-family&#58;&quot;source sans pro&quot;, sans-serif;vertical-align&#58;baseline;margin&#58;0px 0px 0px 20px;padding&#58;0px;list-style-position&#58;initial;list-style-image&#58;initial;background-color&#58;#ffffff;"><li style="border&#58;0px;font-style&#58;inherit;font-variant&#58;inherit;font-stretch&#58;inherit;line-height&#58;16px;vertical-align&#58;baseline;margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;"><div style="border&#58;0px;font&#58;inherit;vertical-align&#58;baseline;margin&#58;0px;padding&#58;0px;">The Enterprises completed 8,464&#160;foreclosure prevention actions in August, bringing the total to 4,372,944&#160;since the start of the conservatorships in September 2008.&#160;Over half of these actions have been permanent loan modifications.</div></li><li style="border&#58;0px;font-style&#58;inherit;font-variant&#58;inherit;font-stretch&#58;inherit;line-height&#58;16px;vertical-align&#58;baseline;margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;"><div style="border&#58;0px;font&#58;inherit;vertical-align&#58;baseline;margin&#58;0px;padding&#58;0px;">There were 5,721&#160;permanent loan modifications in August, bringing the total to 2,368,691&#160;since the conservatorships began in September 2008.</div></li><li style="border&#58;0px;font-style&#58;inherit;font-variant&#58;inherit;font-stretch&#58;inherit;line-height&#58;16px;vertical-align&#58;baseline;margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;"><div style="border&#58;0px;font&#58;inherit;vertical-align&#58;baseline;margin&#58;0px;padding&#58;0px;">Twenty-nine&#160;percent of modifications in August were modifications with principal forbearance. Modifications with extend-term only accounted for 65&#160;percent of all loan modifications during the month.</div></li><li style="border&#58;0px;font-style&#58;inherit;font-variant&#58;inherit;font-stretch&#58;inherit;line-height&#58;16px;vertical-align&#58;baseline;margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;"><div style="border&#58;0px;font&#58;inherit;vertical-align&#58;baseline;margin&#58;0px;padding&#58;0px;">There were 432 short sales and deeds-in-lieu of foreclosure completed in August, down 4&#160;percent compared with July.</div></li></ul><p style="border&#58;0px;font-stretch&#58;inherit;font-size&#58;14px;line-height&#58;22px;font-family&#58;&quot;source sans pro&quot;, sans-serif;vertical-align&#58;baseline;padding&#58;0px;background-color&#58;#ffffff;color&#58;#404040 !important;"><span style="border&#58;0px;font-style&#58;inherit;font-variant&#58;inherit;font-stretch&#58;inherit;font-size&#58;inherit;line-height&#58;inherit;font-family&#58;inherit;vertical-align&#58;baseline;margin&#58;0px;padding&#58;0px;font-weight&#58;700 !important;">The Enterprises' Mortgage Performance&#58;</span></p><ul style="border&#58;0px;font-stretch&#58;inherit;font-size&#58;14px;line-height&#58;inherit;font-family&#58;&quot;source sans pro&quot;, sans-serif;vertical-align&#58;baseline;margin&#58;0px 0px 0px 20px;padding&#58;0px;list-style-position&#58;initial;list-style-image&#58;initial;background-color&#58;#ffffff;"><li style="border&#58;0px;font-style&#58;inherit;font-variant&#58;inherit;font-stretch&#58;inherit;line-height&#58;16px;vertical-align&#58;baseline;margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;">The serious delinquency rate remaiined unchaged at 0.65&#160;percent at the end of August&#160;from&#160;July.<br></li></ul><p style="border&#58;0px;font-stretch&#58;inherit;font-size&#58;14px;line-height&#58;22px;font-family&#58;&quot;source sans pro&quot;, sans-serif;vertical-align&#58;baseline;padding&#58;0px;background-color&#58;#ffffff;color&#58;#404040 !important;"><span style="border&#58;0px;font-style&#58;inherit;font-variant&#58;inherit;font-stretch&#58;inherit;font-size&#58;inherit;line-height&#58;inherit;font-family&#58;inherit;vertical-align&#58;baseline;margin&#58;0px;padding&#58;0px;font-weight&#58;700 !important;">The Enterprises' Foreclosures&#58;</span></p><ul style="border&#58;0px;font-stretch&#58;inherit;font-size&#58;14px;line-height&#58;inherit;font-family&#58;&quot;source sans pro&quot;, sans-serif;vertical-align&#58;baseline;margin&#58;0px 0px 0px 20px;padding&#58;0px;list-style-position&#58;initial;list-style-image&#58;initial;background-color&#58;#ffffff;"><li style="border&#58;0px;font-style&#58;inherit;font-variant&#58;inherit;font-stretch&#58;inherit;line-height&#58;16px;vertical-align&#58;baseline;margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;">Third-party and foreclosure sales decreased slightly&#160;from 3,328&#160;in July to 3,321&#160;in August.</li><li style="border&#58;0px;font-style&#58;inherit;font-variant&#58;inherit;font-stretch&#58;inherit;line-height&#58;16px;vertical-align&#58;baseline;margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;">Foreclosure starts decreased from 10,054&#160;in July to 8,941&#160;in August.<br></li></ul><h3 style="margin&#58;0px;font-weight&#58;900;font-family&#58;lato, sans-serif;color&#58;#404040;font-size&#58;20px;border&#58;0px;font-stretch&#58;inherit;vertical-align&#58;baseline;padding&#58;0px;background-color&#58;#ffffff;">​August 2019&#160;Highlights -- Refinance Activities&#160;<br></h3><ul style="border&#58;0px;font-stretch&#58;inherit;font-size&#58;14px;line-height&#58;inherit;font-family&#58;&quot;source sans pro&quot;, sans-serif;vertical-align&#58;baseline;margin&#58;0px 0px 0px 20px;padding&#58;0px;list-style-position&#58;initial;list-style-image&#58;initial;background-color&#58;#ffffff;"><li style="border&#58;0px;font-style&#58;inherit;font-variant&#58;inherit;font-stretch&#58;inherit;line-height&#58;16px;vertical-align&#58;baseline;margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;"><div style="border&#58;0px;font&#58;inherit;vertical-align&#58;baseline;margin&#58;0px;padding&#58;0px;">Total refinance volume increased in August 2019 as mortgage rates fell in previous months. Mortgage rates decreased in August&#58; the average interest rate on a 30-year fixed rate mortgage fell to 3.62 percent from 3.77 percent in July.<br></div></li><li style="border&#58;0px;font-style&#58;inherit;font-variant&#58;inherit;font-stretch&#58;inherit;line-height&#58;16px;vertical-align&#58;baseline;margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;"><div style="border&#58;0px;font&#58;inherit;vertical-align&#58;baseline;margin&#58;0px;padding&#58;0px;">The percentage of cashout refinances decreased as mortgage rates fell in previous months, creating more opportunities for non cashout borrowers to refinance at lower rates and lower their monthly payments.&#160;<br></div></li><li style="border&#58;0px;font-style&#58;inherit;font-variant&#58;inherit;font-stretch&#58;inherit;line-height&#58;16px;vertical-align&#58;baseline;margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;"><div style="border&#58;0px;font&#58;inherit;vertical-align&#58;baseline;margin&#58;0px;padding&#58;0px;">In August 2019, borrowers completed 2 refinances through HARP, bringing total refinances since the inception of the program to 3,495,410.<br></div></li><li style="border&#58;0px;font-style&#58;inherit;font-variant&#58;inherit;font-stretch&#58;inherit;line-height&#58;16px;vertical-align&#58;baseline;margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;"><div style="border&#58;0px;font&#58;inherit;vertical-align&#58;baseline;margin&#58;0px;padding&#58;0px;">Borrowers who refinanced through HARP had a lower delinquency rate compared to borrowers eligible for HARP who did not refinance through the program.&#160;<br></div></li></ul>11/8/2019 4:01:02 PMHome / About FHFA / Reports / Foreclosure Prevention, Refinance and FPM Report - August 2019 Foreclosure 540https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
The 2019 Strategic Plan for the Conservatorships of Fannie Mae and Freddie Mac2733910/28/2019 4:00:00 AM<table class="ms-rteTable-0" cellspacing="0" style="width&#58;100%;"><tbody><tr class="ms-rteTableEvenRow-0"><td class="ms-rteTableEvenCol-0" style="width&#58;10%;"> <a href="/AboutUs/Reports/ReportDocuments/2014StrategicPlan05132014Final.pdf">​</a><img class="ms-rtePosition-1" alt="2019 Conservatorship Strategic Plan Report Cover" src="/AboutUs/Reports/PublishingImages/2019-Strategic-Plan-thumb.png" style="margin&#58;5px;width&#58;100px;height&#58;130px;box-shadow&#58;2px 2px 2px #808080;" /></td><td class="ms-rteTableOddCol-0" style="width&#58;50%;"><p>​Since January 6, 2014, FHFA has conducted an ongoing assessment of its obligations and statutory mandates in an effort to update the Strategic Plan released in 2012. FHFA’s 2019 Strategic Plan reflects this assessment and provides a new approach to the conservatorships of Fannie Mae and Freddie Mac. The 3 core objectives of the Strategic Plan are to ensure the Enterprises&#58;<br></p><ol><li><p>FOSTER competitive, liquid, efficient, and resilient (CLEAR) national housing finance markets that support sustainable homeownership and affordable rental housing;</p></li><li><p>OPERATE in a safe and sound manner appropriate for entities in conservatorships; and <br></p></li><li><p>PREPARE for their eventual exit from conservatorships.<br></p></li></ol></td></tr></tbody></table>10/28/2019 2:00:48 PMHome / About FHFA / Reports / The 2019 Strategic Plan for the Conservatorships of Fannie Mae and Freddie Mac Since January 6, 2014, FHFA has conducted an ongoing assessment of 6258https://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.


 

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