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FANNIE MAE AND FREDDIE MAC Reports


 

Fannie Mae and Freddie Mac (the Enterprises) were created by Congress to provide stability and liquidity in the secondary housing finance market. These reports are related to Fannie Mae’s and Freddie Mac’s activities to meet their mission and the Enterprises’ financial performance and condition.



 

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 Recent Fannie Mae and Freddie Mac Reports

 

 

U.S. House Price Index Report - 2020 Q33146711/24/2020 5:00:00 AM<p><strong>​Washington, D.C. </strong>– U.S. house prices rose <strong>7.8 percent</strong> from the third quarter of 2019 to the third quarter of 2020 according to the Federal Housing Finance Agency House Price Index (FHFA HPI<sup>®</sup>). House prices were up <strong>3.1 percent</strong> in the third quarter of 2020. FHFA's seasonally adjusted monthly index for September was up <strong>1.7 percent</strong> from August.</p><p>&quot;House prices recorded their strongest quarterly gain in the history of the FHFA HPI purchase-only series in the third quarter of 2020,&quot; said Dr. Lynn Fisher, Deputy Director of the Division of Research and Statistics at FHFA. &quot;Relative to a year ago, prices were up 7.8 percent during the quarter – the fastest year-over-year rate of appreciation since 2006.&#160; Monthly data indicate that prices continued to accelerate during the quarter, reaching 9.1 percent in September, as demand continues to outpace the supply of homes available for sale.&quot; </p><p>​View highlights video featuring Dr. Lynn Fisher at&#160;<a href="https&#58;//youtu.be/qK47v7eLfcQ">https&#58;//youtu.be/qK47v7eLfcQ</a>.<br></p><p><a href="/Media/PublicAffairs/Pages/US-House-Prices-Rise-3pt1-Pct-in-3Q-Up-7pt8-Pct-over-the-Last-Year.aspx">Related News Release</a>​<br></p>11/24/2020 2:01:11 PMHome / About FHFA / Reports / U.S. House Price Index Report - 2020 Q3 House Price Index https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Foreclosure Prevention, Refinance, and FPM Report — August 20203138911/12/2020 5:00:00 AM<h2>August&#160;2020 Highlights&#160;— Foreclosure Prevention</h2><h4 style="margin&#58;auto;color&#58;#777777;text-transform&#58;none;line-height&#58;1.6;text-indent&#58;0px;letter-spacing&#58;normal;font-family&#58;&quot;segoe ui&quot;, segoe, tahoma, helvetica, arial, sans-serif;font-size&#58;13px;font-style&#58;normal;word-spacing&#58;0px;white-space&#58;normal;orphans&#58;2;widows&#58;2;text-decoration-style&#58;initial;text-decoration-color&#58;initial;"> <strong>The Enterprises' Foreclosure Prevention Actions&#58;</strong></h4><ul style="color&#58;#444444;text-transform&#58;none;text-indent&#58;0px;letter-spacing&#58;normal;font-family&#58;&quot;segoe ui&quot;, segoe, tahoma, helvetica, arial, sans-serif;font-size&#58;13px;font-style&#58;normal;font-weight&#58;400;word-spacing&#58;0px;white-space&#58;normal;orphans&#58;2;widows&#58;2;text-decoration-style&#58;initial;text-decoration-color&#58;initial;"><li>The Enterprises completed&#160;166,942 foreclosure prevention actions in August, bringing the total to 5,083,030 since the start of the conservatorships in September 2008.&#160;Nearly half of these actions have been permanent loan modifications.</li><li>There were 3,599 permanent loan modifications in August, bringing the total to 2,428,926 since the conservatorships began in September 2008.</li><li>Twenty-three&#160;percent of modifications in&#160;August were modifications with principal forbearance. Modifications with extend-term only accounted for 61 percent of all loan modifications during the month.</li><li>The number of borrowers who received payment deferrals after completing a COVID-19 related forbearance plan dropped from 108,492 in July to 60,364 in August.</li><li>Initiated forbearance plans decreased&#160;13 percent from 88,989&#160;in&#160;July to&#160;77,546 in August.&#160;The total number of loans in forbearance plans decreased from 1,263,980 at the end of July to 1,147,033 at the end of August, representing approximately 4.0% of the total loans serviced, and 82.1 percent of the total delinquent loans.</li><li>There were&#160;308 short sales and deeds-in-lieu of foreclosure completed in August,&#160;down 4&#160;percent compared with July.</li></ul><h4 style="margin&#58;auto;color&#58;#777777;text-transform&#58;none;line-height&#58;1.6;text-indent&#58;0px;letter-spacing&#58;normal;font-family&#58;&quot;segoe ui&quot;, segoe, tahoma, helvetica, arial, sans-serif;font-size&#58;13px;font-style&#58;normal;word-spacing&#58;0px;white-space&#58;normal;orphans&#58;2;widows&#58;2;text-decoration-style&#58;initial;text-decoration-color&#58;initial;"> <strong>The Enterprises' Mortgage Performance&#58;</strong></h4><ul style="color&#58;#444444;text-transform&#58;none;text-indent&#58;0px;letter-spacing&#58;normal;font-family&#58;&quot;segoe ui&quot;, segoe, tahoma, helvetica, arial, sans-serif;font-size&#58;13px;font-style&#58;normal;font-weight&#58;400;word-spacing&#58;0px;white-space&#58;normal;orphans&#58;2;widows&#58;2;text-decoration-style&#58;initial;text-decoration-color&#58;initial;"><li>The 30-59 days delinquency rate dropped to 1.11 percent, while the serious delinquency rate increased from 3.19 percent at the end of July to 3.26 percent at the end of August. The increase in the serious delinquency rate was as a result of the COVID-19 pandemic and the forbearance programs being offered to affected borrowers.</li></ul><h4 style="margin&#58;auto;color&#58;#777777;text-transform&#58;none;line-height&#58;1.6;text-indent&#58;0px;letter-spacing&#58;normal;font-family&#58;&quot;segoe ui&quot;, segoe, tahoma, helvetica, arial, sans-serif;font-size&#58;13px;font-style&#58;normal;word-spacing&#58;0px;white-space&#58;normal;orphans&#58;2;widows&#58;2;text-decoration-style&#58;initial;text-decoration-color&#58;initial;"> <strong>The Enterprises' Foreclosures&#58;</strong></h4><ul style="color&#58;#444444;text-transform&#58;none;text-indent&#58;0px;letter-spacing&#58;normal;font-family&#58;&quot;segoe ui&quot;, segoe, tahoma, helvetica, arial, sans-serif;font-size&#58;13px;font-style&#58;normal;font-weight&#58;400;word-spacing&#58;0px;white-space&#58;normal;orphans&#58;2;widows&#58;2;text-decoration-style&#58;initial;text-decoration-color&#58;initial;"><li>Third-party and foreclosure sales dropped 14 percent to 542 while foreclosure starts decreased 4 percent to 1,935 in August.</li></ul><h2>August&#160;2020 Highlights&#160;— Refinance Activities</h2><ul><li>Total refinance volume increased in August 2020 to record levels as mortgage rates fell in previous months. Mortgage rates decreased further in August&#58; the average interest rate on a 30-year fixed rate mortgage fell to 2.94 percent from 3.02 percent in July.</li><li>In August, 15 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 98.</li><li>The percentage of cash-out refinances decreased to 24 percent in August from 25 percent in July. Mortgage rates have continued to fall, creating more opportunities for non cash-out borrowers to refinance at lower rates and lower their monthly payments.</li></ul>11/12/2020 6:00:34 PMHome / About FHFA / Reports / Foreclosure Prevention, Refinance, and FPM Report — August 2020 Foreclosure 359https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Annual Housing Report 20203131810/30/2020 4:00:00 AM<p>​This Annual Housing Report (Report) describes the affordable housing activities of the Enterprises during 2019 and meets the reporting requirements of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992, as amended (Safety and Soundness Act). The Report describes FHFA's final review of the Enterprises' 2019 housing goals performance. The Report also contains the results of FHFA's evaluations and ratings of the Enterprises' 2019 Duty to Serve performance, as well as highlights and challenges of selected Duty to Serve activities.</p><p>The Report includes information about the distribution of single-family loans by race/ethnicity, gender, and census tract median income. In addition, the Report includes a breakdown of the single-family mortgage product-types purchased by each Enterprise, as well as information on mortgage payment type (e.g., fixed-rate or adjustable-rate mortgage), loan-to-value ratios, and credit scores for 2019.</p><p>The Report also describes the affordable housing allocations made by each Enterprise, as well as FHFA's efforts to survey the mortgage markets and release loan-level data submitted by the Enterprises to the public. Finally, the Report discusses subprime, nontraditional, and higher-priced mortgage loans.​</p>10/30/2020 2:00:19 PMHome / About FHFA / Reports / Annual Housing Report 2020 Annual Housing Report 966https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
U.S. House Price Index August 20203128010/27/2020 4:00:00 AM<p>​House prices rose nationwide in August, up <strong>1.5 percent</strong> from the previous month, according to the latest Federal Housing Finance Agency House Price Index (FHFA HPI<sup>®</sup>). &#160;House prices rose <strong>8.0 percent </strong>from August 2019 to August 2020. FHFA also revised its previously reported 1.0 percent price change for July 2020 to 1.1 percent.</p><p>For the nine census divisions, seasonally adjusted monthly house price changes from July 2020 to August 2020 ranged from +<strong>0.9 percent</strong> in the East South Central division to +<strong>1.9 percent</strong> in the West South Central division.&#160; The 12-month changes ranged from +<strong>7.2 percent</strong> in the West North Central division to +<strong>9.7 percent</strong> in the Mountain division.</p><p>Monthly index values and appreciation rate estimates for recent periods are provided in the tables and graphs on the following pages. Downloadable data and HPI release dates for all of 2020 and 2021&#160;are available here&#58; <a href="/HPI"> https&#58;//www.fhfa.gov/HPI</a>.</p><p><a href="/Media/PublicAffairs/Pages/FHFA-House-Price-Index-Up-1pt5-Percent-in-August-Up-8-Percent-from-Last-Year.aspx">Related News Release</a></p>10/27/2020 1:00:22 PMHome / About FHFA / Reports / U.S. House Price Index August 2020 House Price Index 5016https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Foreclosure Prevention, Refinance, and FPM Report — July 20202863810/15/2020 4:00:00 AM<h2>July&#160;2020 Highlights&#160;— Foreclosure Prevention</h2><h4 style="margin&#58;auto;color&#58;#777777;text-transform&#58;none;line-height&#58;1.6;text-indent&#58;0px;letter-spacing&#58;normal;font-family&#58;&quot;segoe ui&quot;, segoe, tahoma, helvetica, arial, sans-serif;font-size&#58;13px;font-style&#58;normal;word-spacing&#58;0px;white-space&#58;normal;orphans&#58;2;widows&#58;2;text-decoration-style&#58;initial;text-decoration-color&#58;initial;"> <strong>The Enterprises' Foreclosure Prevention Actions&#58;</strong></h4><ul style="color&#58;#444444;text-transform&#58;none;text-indent&#58;0px;letter-spacing&#58;normal;font-family&#58;&quot;segoe ui&quot;, segoe, tahoma, helvetica, arial, sans-serif;font-size&#58;13px;font-style&#58;normal;font-weight&#58;400;word-spacing&#58;0px;white-space&#58;normal;orphans&#58;2;widows&#58;2;text-decoration-style&#58;initial;text-decoration-color&#58;initial;"><li>The Enterprises completed&#160;230,198 foreclosure prevention actions in July, bringing the total to 4,916,088 since the start of the conservatorships in September 2008. Over half of these actions have been permanent loan modifications.</li><li>There were 4,481 permanent loan modifications in July, bringing the total to 2,425,327 since the conservatorships began in September 2008.</li><li>Eighteen&#160;percent of modifications in&#160;July were modifications with principal forbearance. Modifications with extend-term only accounted for 66 percent of all loan modifications during the month.</li><li>Beginning in July, the Enterprises offered payment deferrals to 108,492 borrowers who have completed a COVID-19 related forbearance plan, or who have a confirmed but resolved COVID-19 financial hardship.</li><li>Initiated forbearance plans dropped 31 percent from 129,855&#160;in&#160;June to&#160;88,989 in July.&#160;The total number of loans in forbearance plans decreased from 1,398,250 at the end of June to 1,263,98 at the end of July, representing approximately 4.46% of the total loans serviced, and 89 percent of the total delinquent loans.</li><li>There were&#160;321 short sales and deeds-in-lieu of foreclosure completed in July,&#160;up 4&#160;percent compared with June.</li></ul><h4 style="margin&#58;auto;color&#58;#777777;text-transform&#58;none;line-height&#58;1.6;text-indent&#58;0px;letter-spacing&#58;normal;font-family&#58;&quot;segoe ui&quot;, segoe, tahoma, helvetica, arial, sans-serif;font-size&#58;13px;font-style&#58;normal;word-spacing&#58;0px;white-space&#58;normal;orphans&#58;2;widows&#58;2;text-decoration-style&#58;initial;text-decoration-color&#58;initial;"> <strong>The Enterprises' Mortgage Performance&#58;</strong></h4><ul style="color&#58;#444444;text-transform&#58;none;text-indent&#58;0px;letter-spacing&#58;normal;font-family&#58;&quot;segoe ui&quot;, segoe, tahoma, helvetica, arial, sans-serif;font-size&#58;13px;font-style&#58;normal;font-weight&#58;400;word-spacing&#58;0px;white-space&#58;normal;orphans&#58;2;widows&#58;2;text-decoration-style&#58;initial;text-decoration-color&#58;initial;"><li>The 30-59 days delinquency rate dropped to 1.12 percent, while the serious delinquency rate increased from 2.58 percent at the end of June to 3.19 percent at the end of July. The increase in the serious delinquency rate was as a result of the COVID-19 pandemic and the forbearance programs being offered to affected borrowers.</li></ul><h4 style="margin&#58;auto;color&#58;#777777;text-transform&#58;none;line-height&#58;1.6;text-indent&#58;0px;letter-spacing&#58;normal;font-family&#58;&quot;segoe ui&quot;, segoe, tahoma, helvetica, arial, sans-serif;font-size&#58;13px;font-style&#58;normal;word-spacing&#58;0px;white-space&#58;normal;orphans&#58;2;widows&#58;2;text-decoration-style&#58;initial;text-decoration-color&#58;initial;"> <strong>The Enterprises' Foreclosures&#58;</strong></h4><ul style="color&#58;#444444;text-transform&#58;none;text-indent&#58;0px;letter-spacing&#58;normal;font-family&#58;&quot;segoe ui&quot;, segoe, tahoma, helvetica, arial, sans-serif;font-size&#58;13px;font-style&#58;normal;font-weight&#58;400;word-spacing&#58;0px;white-space&#58;normal;orphans&#58;2;widows&#58;2;text-decoration-style&#58;initial;text-decoration-color&#58;initial;"><li>Third-party and foreclosure sales increased to 629 in July while foreclosure starts increased slightly to 2,017 in July.</li></ul><h2>July&#160;2020 Highlights&#160;— Refinance Activities</h2><ul><li>Total refinance volume increased in July 2020 to levels last observed in 2009 as mortgage rates fell in previous months. Mortgage rates decreased further in July&#58; the average interest rate on a 30-year fixed rate mortgage fell to 3.02 percent from 3.16 percent in June.</li><li>In July, 13 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 83.</li><li>The percentage of cash-out refinances decreased to 25 percent in July from 27 percent in June. Mortgage rates have continued to fall, creating more opportunities for non cash-out borrowers to refinance at lower rates and lower their monthly payments.</li></ul>10/15/2020 2:00:16 PMHome / About FHFA / Reports / Foreclosure Prevention, Refinance, and FPM Report — July 2020 Foreclosure 756https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
U.S. House Price Index July 2020354849/23/2020 4:00:00 AM<p>House prices rose <strong>6.5 percent</strong> from July 2019 to July 2020 and were up <strong>1.0 percent</strong> for the month. FHFA also revised its previously reported 0.9 percent price change for June 2020 to 1.0 percent.</p><p>For the nine census divisions, seasonally adjusted monthly house price changes from June 2020 to July 2020 ranged from <strong>+0.6 percent</strong> in the West North Central division to <strong>+2.0 percent </strong>in the New England division. The 12-month changes ranged from <strong>+5.4 percent</strong> in the West South Central division to <strong>+7.7 percent</strong> in both the Mountain and the East South Central divisions.</p><p>Monthly index values and appreciation rate estimates for recent periods are provided in the tables and graphs on the following pages. Downloadable data and HPI release dates for all of 2020 are available here&#58; <a href="/HPI"> https&#58;//www.fhfa.gov/HPI</a>.</p><p> <a href="/Media/PublicAffairs/Pages/FHFA-House-Price-Index-Up-1pt0-Pct-in-July-Up-6pt5-Pct-from-Last-Year.aspx">Related News Release</a></p>9/23/2020 1:00:47 PMHome / About FHFA / Reports / U.S. House Price Index July 2020 House Price Index 28261https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Foreclosure Prevention Refinance and FPM Report Second Quarter 2020355009/23/2020 4:00:00 AM<h2 style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;color&#58;#404040;font-family&#58;lato, sans-serif;font-size&#58;22px;font-weight&#58;900;vertical-align&#58;baseline;font-stretch&#58;inherit;background-color&#58;#ffffff;">2Q20 Highlights —&#160;Foreclosure Prevention<br></h2><p style="padding&#58;0px;border&#58;0px currentcolor;color&#58;#404040 !important;line-height&#58;22px;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;vertical-align&#58;baseline;font-stretch&#58;inherit;background-color&#58;#ffffff;"><span style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;line-height&#58;inherit;font-family&#58;inherit;font-size&#58;inherit;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;700 !important;vertical-align&#58;baseline;font-stretch&#58;inherit;">The Enterprises' Foreclosure Prevention Actions&#58;</span></p><ul style="margin&#58;0px 0px 0px 20px;padding&#58;0px;border&#58;0px currentcolor;line-height&#58;inherit;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;vertical-align&#58;baseline;font-stretch&#58;inherit;background-color&#58;#ffffff;"><li style="margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;border&#58;0px currentcolor;line-height&#58;16px;font-style&#58;inherit;font-variant&#58;inherit;vertical-align&#58;baseline;font-stretch&#58;inherit;">The Enterprises completed 254,014&#160;foreclosure prevention actions in the second&#160;quarter, bringing the total to 4,685,890&#160;since the start of conservatorships in September 2008. Of these actions, 3,986,294&#160;have helped troubled homeowners&#160;stay in their homes, including 2,420,846&#160;permanent loan modifications.</li><li style="margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;border&#58;0px currentcolor;line-height&#58;16px;font-style&#58;inherit;font-variant&#58;inherit;vertical-align&#58;baseline;font-stretch&#58;inherit;">Initiated forbearance plans increased significantly&#160;to 1,511,787&#160;in the second&#160;quarter from 170,533 in the first quarter due to the COVID-19 pandemic. The total number of loans in forbearance plans at the end of the quarter was 1,398,250, representing approximately 4.95% of the total loans serviced, and 90 percent of the total delinquent loans.&#160;<br></li><li style="margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;border&#58;0px currentcolor;line-height&#58;16px;font-style&#58;inherit;font-variant&#58;inherit;vertical-align&#58;baseline;font-stretch&#58;inherit;">Nineteen&#160;percent of modifications in the second quarter were modifications with principal forbearance. Modifications with extend-term only accounted for 66&#160;percent of all loan modifications during the quarter.</li><li style="margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;border&#58;0px currentcolor;line-height&#58;16px;font-style&#58;inherit;font-variant&#58;inherit;vertical-align&#58;baseline;font-stretch&#58;inherit;">There were 922&#160;completed short sales and deeds-in-lieu during the quarter, bringing the total to 699,596&#160;since the conservatorships began in September 2008.​<br><br></li></ul><p style="padding&#58;0px;border&#58;0px currentcolor;color&#58;#404040 !important;line-height&#58;22px;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;vertical-align&#58;baseline;font-stretch&#58;inherit;background-color&#58;#ffffff;"><span style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;line-height&#58;inherit;font-family&#58;inherit;font-size&#58;inherit;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;700 !important;vertical-align&#58;baseline;font-stretch&#58;inherit;">The Enterprises' Mortgage Performance&#58;</span></p><ul style="margin&#58;0px 0px 0px 20px;padding&#58;0px;border&#58;0px currentcolor;line-height&#58;inherit;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;vertical-align&#58;baseline;font-stretch&#58;inherit;background-color&#58;#ffffff;"><li style="margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;border&#58;0px currentcolor;line-height&#58;16px;font-style&#58;inherit;font-variant&#58;inherit;vertical-align&#58;baseline;font-stretch&#58;inherit;">The 60+ days delinquency rate jumped from 0.92 percent at the end of the first quarter to 4.08 percent at the end of the second quarter, the highest rate since second of 2012.&#160; The spike in delinquencies were as a result of the COVID-19 pandemic and the forbearance programs being offered to the affected borrowers.&#160;<br></li><li style="margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;border&#58;0px currentcolor;line-height&#58;16px;font-style&#58;inherit;font-variant&#58;inherit;vertical-align&#58;baseline;font-stretch&#58;inherit;">The Enterprises' serious (90 days or more) delinquency rate rose to 2.58&#160;percent at the end of the second&#160;quarter. This compared with 7.96&#160;percent for Federal Housing Administration (FHA) loans, 3.98&#160;percent for&#160;Veterans Affairs (VA) loans, and 4.26&#160;percent for all loans (industry average).​<br><br></li></ul><p style="padding&#58;0px;border&#58;0px currentcolor;color&#58;#404040 !important;line-height&#58;22px;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;vertical-align&#58;baseline;font-stretch&#58;inherit;background-color&#58;#ffffff;"><span style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;line-height&#58;inherit;font-family&#58;inherit;font-size&#58;inherit;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;700 !important;vertical-align&#58;baseline;font-stretch&#58;inherit;">The Enterprises' Foreclosures&#58;</span></p><ul style="margin&#58;0px 0px 0px 20px;padding&#58;0px;border&#58;0px currentcolor;line-height&#58;inherit;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;vertical-align&#58;baseline;font-stretch&#58;inherit;background-color&#58;#ffffff;"><li style="margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;border&#58;0px currentcolor;line-height&#58;16px;font-style&#58;inherit;font-variant&#58;inherit;vertical-align&#58;baseline;font-stretch&#58;inherit;">​Foreclosure starts decreased to 74&#160;percent to 7,551&#160;while third-party and foreclosure sales dropped 87 percent to 1,028 in the second quarter due to the suspension of foreclosures.</li></ul><blockquote style="margin&#58;0px 0px 0px 40px;padding&#58;0px;border&#58;currentcolor;line-height&#58;inherit;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;vertical-align&#58;baseline;font-stretch&#58;inherit;background-color&#58;#ffffff;"><p style="padding&#58;0px;border&#58;0px currentcolor;color&#58;#404040 !important;line-height&#58;22px;font-style&#58;inherit;font-variant&#58;inherit;vertical-align&#58;baseline;font-stretch&#58;inherit;"><em style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;line-height&#58;inherit;font-family&#58;inherit;font-size&#58;inherit;font-variant&#58;inherit;font-weight&#58;inherit;vertical-align&#58;baseline;font-stretch&#58;inherit;">​For an interactive online map that provides state data, click on the following link&#58;&#160;</em></p><p style="padding&#58;0px;border&#58;0px currentcolor;color&#58;#404040 !important;line-height&#58;22px;font-style&#58;inherit;font-variant&#58;inherit;vertical-align&#58;baseline;font-stretch&#58;inherit;"><em style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;line-height&#58;inherit;font-family&#58;inherit;font-size&#58;inherit;font-variant&#58;inherit;font-weight&#58;inherit;vertical-align&#58;baseline;font-stretch&#58;inherit;"></em><a href="/DataTools/Tools/Pages/Borrower-Assistance-Map.aspx" style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;color&#58;#276598;line-height&#58;inherit;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;600;vertical-align&#58;baseline;font-stretch&#58;inherit;">Fannie Mae and Freddie Mac State Borrower Assistance Map</a>​<br></p></blockquote><span style="font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;background-color&#58;#ffffff;">​</span><h2 style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;color&#58;#404040;font-family&#58;lato, sans-serif;font-size&#58;22px;font-weight&#58;900;vertical-align&#58;baseline;font-stretch&#58;inherit;background-color&#58;#ffffff;">2Q20 Highlights ​— Refinance Activities​​<br><br></h2><ul style="margin&#58;0px 0px 0px 20px;padding&#58;0px;border&#58;0px currentcolor;line-height&#58;inherit;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;vertical-align&#58;baseline;font-stretch&#58;inherit;background-color&#58;#ffffff;"><li style="margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;border&#58;0px currentcolor;line-height&#58;16px;font-style&#58;inherit;font-variant&#58;inherit;vertical-align&#58;baseline;font-stretch&#58;inherit;"><span style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;line-height&#58;inherit;font-style&#58;inherit;font-variant&#58;inherit;vertical-align&#58;baseline;font-stretch&#58;inherit;">​​Total refinance volume increased in June&#160;2020 to levels last observed in 2013 as mortgage&#160;rates fell in previous months.&#160;Mortgage rates decreased further in June&#58; the average interest rate on a 30-year fixed rate&#160;mortgage fell to 3.16&#160;percent from 3.23&#160;percent in May.</span></li><li style="margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;border&#58;0px currentcolor;line-height&#58;16px;font-style&#58;inherit;font-variant&#58;inherit;vertical-align&#58;baseline;font-stretch&#58;inherit;">In the Second Quarter&#160;2020,&#160;51 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 70.<br></li><li style="margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;border&#58;0px currentcolor;line-height&#58;16px;font-style&#58;inherit;font-variant&#58;inherit;vertical-align&#58;baseline;font-stretch&#58;inherit;">The percentage of cash-out refinances increased to&#160;27&#160;percent in&#160;June from 28 percent in May. Mortgage rates have continued to fall, creating more opportunities&#160;for non cash-out borrowers to refinance at lower rates and lower their monthly payments.<br><br></li></ul><div style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;line-height&#58;inherit;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;vertical-align&#58;baseline;font-stretch&#58;inherit;background-color&#58;#ffffff;"><a href="/Media/PublicAffairs/Pages/FHFA-Releases-2nd-Quarter-Foreclosure-Prevention-and-Refinance-Report-for-the-Enterprises.aspx">Related News Release</a>​&#160;<a href="/AboutUs/Reports/Pages/Forms/EditForm.aspx?ID=951" style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;color&#58;#276598;line-height&#58;inherit;font-family&#58;inherit;font-size&#58;inherit;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;600;vertical-align&#58;baseline;font-stretch&#58;inherit;">​</a><br><br></div>9/24/2020 5:00:18 PMHome / About FHFA / Reports / Foreclosure Prevention Refinance and FPM Report Second Quarter 2020 The Enterprises completed 254,014 foreclosure prevention actions in the second 585https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
U.S. House Price Index Report - 2020 Q2 / June284648/25/2020 4:00:00 AM<p><strong style="font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;">​Washington, D.C.</strong> – U.S. house prices rose 5.4 percent from the second quarter of 2019 to the&#160;second quarter of 2020 according to the Federal Housing Finance Agency (FHFA) House Price Index (HPI). House prices were up 0.8 percent in the second quarter of 2019. FHFA’s seasonally&#160;adjusted monthly index for June was up 0.9 percent from May.<br></p><p>“Home prices grew by 5.4 percent in the second quarter of 2020 compared to a year ago, despite the impacts of COVID-19.” said Dr. Lynn Fisher, Deputy Director of the Division of Research and Statistics at FHFA. “Although house prices fell slightly in May relative to April, in June prices rebounded by 0.9 percent over the month as local economies re-opened and transactions picked up again. Four Census Divisions showed strong early summer gains with month-over-month growth of one percent or more in June.” </p><div>View highlights video featuring Dr. Lynn Fisher at <a href="https&#58;//youtu.be/BCaHwLXe3Kc">https&#58;//youtu.be/BCaHwLXe3Kc</a>.</div><div><br>&#160;</div><div><a href="/Media/PublicAffairs/Pages/US-House-Prices-Up-5pt4-Pct-from-Last-Year-Prices-Rise-0pt8-Pct-in-2nd-Quarter-Despite-COVID.aspx">Related News Release</a><br></div>8/25/2020 1:00:08 PMHome / About FHFA / Reports / U.S. House Price Index Report - 2020 Q2 / June House Price Index 6381https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Prepayment Monitoring Report Second Quarter 2020278828/24/2020 4:00:00 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"> <strong> <em>2014 Strategic Plan for the Conservatorships of</em></strong></a> <a href="/AboutUs/Reports/Pages/2014-Conservatorships-Strategic-Plan.aspx"> <strong> <em>Fannie Mae and Freddie Mac</em></strong></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> <em>Ex post </em>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"> <em>An Update on the Structure of the Single Security</em></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 and Table 2 (Quartile Report).&#160; 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.&#160;</p>8/24/2020 5:50:19 PMHome / About FHFA / Reports / Prepayment Monitoring Report Second Quarter 2020 Prepayment Monitoring 828https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Foreclosure Prevention, Refinance, and FPM Report — May 2020283428/18/2020 4:00:00 AM<h2>​May 2020 Highlights&#160;— Foreclosure Prevention</h2><h4 style="margin&#58;auto;color&#58;#777777;text-transform&#58;none;line-height&#58;1.6;text-indent&#58;0px;letter-spacing&#58;normal;font-family&#58;&quot;segoe ui&quot;, segoe, tahoma, helvetica, arial, sans-serif;font-size&#58;13px;font-style&#58;normal;word-spacing&#58;0px;white-space&#58;normal;orphans&#58;2;widows&#58;2;text-decoration-style&#58;initial;text-decoration-color&#58;initial;"> <strong>The Enterprises' Foreclosure Prevention Actions&#58;</strong></h4><ul style="color&#58;#444444;text-transform&#58;none;text-indent&#58;0px;letter-spacing&#58;normal;font-family&#58;&quot;segoe ui&quot;, segoe, tahoma, helvetica, arial, sans-serif;font-size&#58;13px;font-style&#58;normal;font-weight&#58;400;word-spacing&#58;0px;white-space&#58;normal;orphans&#58;2;widows&#58;2;text-decoration-style&#58;initial;text-decoration-color&#58;initial;"><li>The Enterprises completed&#160;83,756 foreclosure prevention actions in May, bringing the total to 4,534,370 since the start of the conservatorships in September 2008. Over half of these actions have been permanent loan modifications.</li><li>There were 4,577 permanent loan modifications in May, bringing the total to 2,415,960 since the conservatorships began in September 2008.</li><li>Nineteen&#160;percent of modifications in&#160;May were modifications with principal forbearance. Modifications with extend-term only accounted for 66 percent of all loan modifications during the month.</li><li>Initiated forbearance plans dropped significantly from 989,594 in April to 392,338 in May.&#160;The total number of loans in forbearance plans at the end of May was 1,450,557, representing approximately 5.1% of the total loans serviced.</li><li>There were 286 short sales and deeds-in-lieu of foreclosure completed in May, down 12 percent compared with April 2020.</li></ul><h4 style="margin&#58;auto;color&#58;#777777;text-transform&#58;none;line-height&#58;1.6;text-indent&#58;0px;letter-spacing&#58;normal;font-family&#58;&quot;segoe ui&quot;, segoe, tahoma, helvetica, arial, sans-serif;font-size&#58;13px;font-style&#58;normal;word-spacing&#58;0px;white-space&#58;normal;orphans&#58;2;widows&#58;2;text-decoration-style&#58;initial;text-decoration-color&#58;initial;"> <strong>The Enterprises' Mortgage Performance&#58;</strong></h4><ul style="color&#58;#444444;text-transform&#58;none;text-indent&#58;0px;letter-spacing&#58;normal;font-family&#58;&quot;segoe ui&quot;, segoe, tahoma, helvetica, arial, sans-serif;font-size&#58;13px;font-style&#58;normal;font-weight&#58;400;word-spacing&#58;0px;white-space&#58;normal;orphans&#58;2;widows&#58;2;text-decoration-style&#58;initial;text-decoration-color&#58;initial;"><li>The 30-59 days delinquency rate dropped to 2.53 percent, while the serious delinquency rate increased from 0.68 percent at the end of April to 0.86 percent at the end of May.</li></ul><h4 style="margin&#58;auto;color&#58;#777777;text-transform&#58;none;line-height&#58;1.6;text-indent&#58;0px;letter-spacing&#58;normal;font-family&#58;&quot;segoe ui&quot;, segoe, tahoma, helvetica, arial, sans-serif;font-size&#58;13px;font-style&#58;normal;word-spacing&#58;0px;white-space&#58;normal;orphans&#58;2;widows&#58;2;text-decoration-style&#58;initial;text-decoration-color&#58;initial;"> <strong>The Enterprises' Foreclosures&#58;</strong></h4><ul style="color&#58;#444444;text-transform&#58;none;text-indent&#58;0px;letter-spacing&#58;normal;font-family&#58;&quot;segoe ui&quot;, segoe, tahoma, helvetica, arial, sans-serif;font-size&#58;13px;font-style&#58;normal;font-weight&#58;400;word-spacing&#58;0px;white-space&#58;normal;orphans&#58;2;widows&#58;2;text-decoration-style&#58;initial;text-decoration-color&#58;initial;"><li>Third-party and foreclosure sales dropped 24 percent from 344 in&#160;April to&#160;260 in May due to the suspension of foreclosures.</li><li>Foreclosure starts also dropped from 3,229&#160;in April to&#160;2,316&#160;in May due to the suspension of foreclosures.</li></ul><h2>May 2020 Highlights&#160;— Refinance Activities</h2><ul><li>Total refinance volume increased in May to levels last observed&#160;in 2013 as&#160;mortgage rates fell in previous months. Mortgage rates decreased further&#160;in May&#58; the average interest rate on a 30-year fixed rate mortgage fell to&#160;3.23 percent from 3.31 percent in April.</li><li>In May, 14 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 46.</li><li>The percentage of cash-out refinances decreased to 28 percent in May from 30 percent in April.&#160;Mortgage rates have continued to fall&#160;from the highs observed in 2018, creating more opportunities for non cash-out borrowers to refinance at lower rates and lower their monthly payments. </li></ul>8/18/2020 5:00:38 PMHome / About FHFA / Reports / Foreclosure Prevention, Refinance, and FPM Report — May 2020 Foreclosure 1106https://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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