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Foreclosure Prevention Report - October 201724234<h2 style="margin&#58;0px;font-weight&#58;900;font-family&#58;lato, sans-serif;color&#58;#404040;font-size&#58;22px;border&#58;0px;font-stretch&#58;inherit;vertical-align&#58;baseline;padding&#58;0px;background-color&#58;#ffffff;">​October 2017&#160;Highlights<br></h2><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; &#160;&#160;&#160;</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 Enterprises completed 18,034&#160;foreclosure prevention actions in October, bringing the total to 3,990,723&#160;since the start of the conservatorships in September 2008. Over half of these actions have been permanent loan modifications.</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;">There were 11,010&#160;permanent loan modifications in October, bringing the total to 2,129,220&#160;since the conservatorships began in September 2008.</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;">Thirty nine percent&#160;of modifications in October were modifications with principal forbearance. Modifications with&#160;extend-term only accounted for 44 percent of&#160;all loan modifications during the month.</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;">There were 1,147 short sales and deeds-in-lieu&#160;of foreclosure completed in October, down slightly compared with September.<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' 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 remained flat at 0.95&#160;percent at the end of October.</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 from 4,905 in September to 4,776&#160;in October.&#160;</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 increased from 12,830 in September to 13,601&#160;in October.<br></li></ul><p><br></p>1/18/2018 7:00:47 PM250https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Refinance Report - November 201724226<h2>November 2017 Highlights</h2><ul><br> <li>Total refinance volume increased in November 2017 as mortgage rates in October remained below the levels observed at the&#160;beginning of the year. Mortgage rates increased in November&#58; the average interest rate on a 30‐year fixed rate mortgage rose to 3.92 percent from 3.90 percent in October.<br></li></ul><blockquote style="margin&#58;0px 0px 0px 40px;padding&#58;0px;border&#58;currentcolor;"><div><p>In November 2017&#58;</p></div></blockquote><div><ul><ul><li>Borrowers completed 2,123 refinances through HARP, bringing total refinances from the inception of the program to&#160;3,482,023.&#160;</li><li>HARP volume represented 1 percent of total refinance&#160;volume.&#160;</li><li>Five percent of the loans refinanced through HARP had a loan‐to‐value ratio greater than 125 percent.</li></ul></ul></div><blockquote style="margin&#58;0px 0px 0px 40px;padding&#58;0px;border&#58;currentcolor;"><div><p dir="ltr" style="text-align&#58;left;">Year to date through November 2017&#58;</p></div></blockquote><div><ul><ul><li>B<span style="text-align&#58;right;">orrowers with loan‐to‐value ratios greater than 105 percent accounted for 19 percent of the volume of HARP loans.</span></li><li>Twenty‐six percent of HARP refinances for underwater borrowers were for shorter‐term 15‐ and 20‐year mortgages, which build equity faster than traditional 30‐year mortgages.</li><li>HARP refinances represented 5 or more percent of total refinances in Nevada and Florida ‐‐ more than double the 2 percent of total refinances nationwide over the same period.<br></li></ul></ul><ul><li>Borrowers who refinanced through HARP had a lower delinquency rate compared to borrowers eligible for HARP who did not&#160;refinance&#160;through the program.<br></li><li>Nine states and one U.S. territory accounted for over 60 percent&#160;of the nation's HARP eligible loans with a refinance incentive as of&#160;June 30, 2017.<br></li></ul><p></p><p></p></div><div><p></p><p> <span style="text-align&#58;right;"></span></p></div>1/16/2018 6:00:43 PM382https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
U.S. House Price Index Report - October 201723749<p>The FHFA House Price Index (HPI) reported&#160; a&#160;0.5 percent&#160; increase in U.S. house prices in October&#160;from the previous month.&#160; According to the Federal Housing Finance Agency (FHFA) seasonally adjusted monthly House Price Index (HPI), the previously reported 0.3 percent increase in September was revised upward to 0.5 percent.&#160;&#160;From October 2016 to October 2017, house prices were up 6.6 percent.&#160; For the nine census divisions, seasonally adjusted monthly price changes from September 2017 to October 2017 ranged from -0.4 percent in the West North Central division to +2.8 percent in the East South Central division. The 12-month changes were all positive, ranging from +4.8 percent in the West North Central division to +8.7 percent in the Pacific division.&#160;&#160;</p><p>Monthly index values and appreciation rate estimates for recent periods are provided in the table and graphs in the attachment.<br></p><p><a href="/Media/PublicAffairs/Pages/FHFA-House-Price-Index-Up-0pt5-Percent-in-October-2017.aspx">Related News Release</a>&#160;<br></p>12/21/2017 2:00:30 PM1680https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Foreclosure Prevention Report - Third Quarter 201723753<h2>Third Quarter 2017 Highlights<br></h2><p><strong>The Enterprises' Foreclosure Prevention Actions&#58;</strong><br></p><ul><li>The Enterprises completed 41,465 foreclosure prevention actions in the third quarter of 2017, bringing the total to 3,972,689 since the start of conservatorships in September 2008. Of these actions, 3,293,272 have helped troubled homeowners stay in their homes, including 2,118,210 permanent loan modifications.<br></li><li>Thirty three percent of modifications in the third quarter were modifications with principal forbearance. Modifications with extend-term only accounted for 47 percent of all loan modifications during the quarter.<br></li><li>As of September 30, 2017, approximately 22 percent of loans modified in the third quarter of 2016 had missed two or more payments, one year after modification.<br></li><li>There were 3,658 completed short sales and deeds-in-lieu during the quarter, bringing the total to 679,417 since the conservatorships began in September in 2008.<br></li></ul><p><strong>The Enterprises' Mortgage Performance&#58;</strong><br></p><ul><li>The number of early stage (30-59 days) delinquent loans rose 25 percent in the third quarter primarily as a result of the impact of Hurricanes Harvey, Irma and Maria.<br></li><li>The Enterprises' serious delinquency rate remained flat at 0.95 percent at the end of the third quarter. This compared with 3.9 percent for Federal Housing Administration (FHA) loans, 2.1 percent for Veterans Affairs (VA) loans, and 2.5 percent for all loans (industry average).<br></li></ul><p><strong>The Enterprises' Foreclosures&#58;</strong><br></p><ul><li>Foreclosure starts fell 5 percent to 42,737, and third-party and foreclosure sales decreased 11 percent to 15,634 in the third quarter.<br></li></ul><p></p><p></p><p>For an interactive online map that provides state data, click on the following link&#58; <a href="/DataTools/Tools/Pages/Borrower-Assistance-Map.aspx">Fannie Mae and Freddie Mac State Borrower Assistance Map</a><br></p><p><a href="/Media/PublicAffairs/Pages/FHFA-Third-Quarter-Foreclosure-Prevention-Report-Shows-Foreclosure-Preventions-Top-3pt9-Million.aspx">Related News Release</a><br></p>12/21/2017 4:00:31 PM304https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Refinance Report - October 201722118<h2>October&#160;2017 Highlights<br><br></h2><div style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;color&#58;#444444;text-transform&#58;none;line-height&#58;inherit;text-indent&#58;0px;letter-spacing&#58;normal;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;font-style&#58;normal;font-weight&#58;400;word-spacing&#58;0px;vertical-align&#58;baseline;white-space&#58;normal;orphans&#58;2;widows&#58;2;font-stretch&#58;inherit;background-color&#58;#ffffff;text-decoration-style&#58;initial;text-decoration-color&#58;initial;"><ul style="font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;inherit;font-size&#58;inherit;line-height&#58;inherit;font-family&#58;inherit;margin&#58;0px 0px 0px 20px;padding&#58;0px;border&#58;0px currentcolor;vertical-align&#58;baseline;font-stretch&#58;inherit;"><li style="margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;border&#58;0px currentcolor;line-height&#58;16px;font-size&#58;14px;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;400;vertical-align&#58;baseline;font-stretch&#58;inherit;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;">Total refinance volume increased in October&#160;2017 as mortgage rates in September remained below the levels observed at the beginning of the year.&#160;&#160;Mortgage rates increased in October&#58;&#160;the average interest rate on a 30-year fixed rate mortgage rose&#160;to 3.90&#160;percent from 3.81&#160;percent in September.<br></li></ul></div><blockquote style="margin&#58;0px 0px 0px 40px;padding&#58;0px;border&#58;currentcolor;color&#58;#444444;text-transform&#58;none;line-height&#58;inherit;text-indent&#58;0px;letter-spacing&#58;normal;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;font-style&#58;normal;font-weight&#58;400;word-spacing&#58;0px;vertical-align&#58;baseline;white-space&#58;normal;orphans&#58;2;widows&#58;2;font-stretch&#58;inherit;background-color&#58;#ffffff;text-decoration-style&#58;initial;text-decoration-color&#58;initial;"><div style="font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;inherit;font-size&#58;inherit;line-height&#58;inherit;font-family&#58;inherit;margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;vertical-align&#58;baseline;font-stretch&#58;inherit;"><p style="margin&#58;0px 0px 10px;padding&#58;0px;border&#58;0px currentcolor;line-height&#58;22px;font-size&#58;14px;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;400;vertical-align&#58;baseline;font-stretch&#58;inherit;color&#58;#404040 !important;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;">In October&#160;2017&#58;</p></div></blockquote><div style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;color&#58;#444444;text-transform&#58;none;line-height&#58;inherit;text-indent&#58;0px;letter-spacing&#58;normal;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;font-style&#58;normal;font-weight&#58;400;word-spacing&#58;0px;vertical-align&#58;baseline;white-space&#58;normal;orphans&#58;2;widows&#58;2;font-stretch&#58;inherit;background-color&#58;#ffffff;text-decoration-style&#58;initial;text-decoration-color&#58;initial;"><ul style="font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;inherit;font-size&#58;inherit;line-height&#58;inherit;font-family&#58;inherit;margin&#58;0px 0px 0px 20px;padding&#58;0px;border&#58;0px currentcolor;vertical-align&#58;baseline;font-stretch&#58;inherit;"><ul style="font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;inherit;font-size&#58;inherit;line-height&#58;inherit;font-family&#58;inherit;margin&#58;0px 0px 0px 20px;padding&#58;0px;border&#58;0px currentcolor;vertical-align&#58;baseline;font-stretch&#58;inherit;"><li style="margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;border&#58;0px currentcolor;line-height&#58;16px;font-size&#58;14px;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;400;vertical-align&#58;baseline;font-stretch&#58;inherit;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;">Borrowers completed 2,184 refinances through HARP, bringing total refinances from the inception of the program to 3,479,901.<br></li><li style="margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;border&#58;0px currentcolor;line-height&#58;16px;font-size&#58;14px;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;400;vertical-align&#58;baseline;font-stretch&#58;inherit;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;">HARP volume represented 2 percent of total refinance volume.</li><li style="margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;border&#58;0px currentcolor;line-height&#58;16px;font-size&#58;14px;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;400;vertical-align&#58;baseline;font-stretch&#58;inherit;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;">Seven percent of the loans refinanced through HARP had a loan-to-value ratio greater than 125 percent.&#160;&#160;<span style="font-style&#58;normal;">&#160;</span></li></ul></ul></div><blockquote style="margin&#58;0px 0px 0px 40px;padding&#58;0px;border&#58;currentcolor;color&#58;#444444;text-transform&#58;none;line-height&#58;inherit;text-indent&#58;0px;letter-spacing&#58;normal;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;font-style&#58;normal;font-weight&#58;400;word-spacing&#58;0px;vertical-align&#58;baseline;white-space&#58;normal;orphans&#58;2;widows&#58;2;font-stretch&#58;inherit;background-color&#58;#ffffff;text-decoration-style&#58;initial;text-decoration-color&#58;initial;"><div style="font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;inherit;font-size&#58;inherit;line-height&#58;inherit;font-family&#58;inherit;margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;vertical-align&#58;baseline;font-stretch&#58;inherit;"><br></div><div style="font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;inherit;font-size&#58;inherit;line-height&#58;inherit;font-family&#58;inherit;margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;vertical-align&#58;baseline;font-stretch&#58;inherit;">Year to date through October&#160;2017&#58;</div></blockquote><div style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;color&#58;#444444;text-transform&#58;none;line-height&#58;inherit;text-indent&#58;0px;letter-spacing&#58;normal;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;font-style&#58;normal;font-weight&#58;400;word-spacing&#58;0px;vertical-align&#58;baseline;white-space&#58;normal;orphans&#58;2;widows&#58;2;font-stretch&#58;inherit;background-color&#58;#ffffff;text-decoration-style&#58;initial;text-decoration-color&#58;initial;"> <br> </div><div style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;color&#58;#444444;text-transform&#58;none;line-height&#58;inherit;text-indent&#58;0px;letter-spacing&#58;normal;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;font-style&#58;normal;font-weight&#58;400;word-spacing&#58;0px;vertical-align&#58;baseline;white-space&#58;normal;orphans&#58;2;widows&#58;2;font-stretch&#58;inherit;background-color&#58;#ffffff;text-decoration-style&#58;initial;text-decoration-color&#58;initial;"><ul style="font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;inherit;font-size&#58;inherit;line-height&#58;inherit;font-family&#58;inherit;margin&#58;0px 0px 0px 20px;padding&#58;0px;border&#58;0px currentcolor;vertical-align&#58;baseline;font-stretch&#58;inherit;"><ul style="font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;inherit;font-size&#58;inherit;line-height&#58;inherit;font-family&#58;inherit;margin&#58;0px 0px 0px 20px;padding&#58;0px;border&#58;0px currentcolor;vertical-align&#58;baseline;font-stretch&#58;inherit;"><li style="margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;border&#58;0px currentcolor;line-height&#58;16px;font-size&#58;14px;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;400;vertical-align&#58;baseline;font-stretch&#58;inherit;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;">Borrowers with loan-to-value ratios greater than 105 percent accounted for 19 percent of the volume of HARP loans.</li><li style="margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;border&#58;0px currentcolor;line-height&#58;16px;font-size&#58;14px;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;400;vertical-align&#58;baseline;font-stretch&#58;inherit;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;">Twenty-six percent of HARP refinances for underwater borrowers were for shorter-term 15- and 20-year mortgages, which build equity faster than traditional 30-year mortgages.</li><li style="margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;border&#58;0px currentcolor;line-height&#58;16px;font-size&#58;14px;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;400;vertical-align&#58;baseline;font-stretch&#58;inherit;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;">HARP refinances represented 5&#160;or more percent of total refinances in Nevada, Illinois,&#160;and Florida -- more than&#160;double the 2 percent of total refinances nationwide over the same period.<br></li></ul></ul><ul style="font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;inherit;font-size&#58;inherit;line-height&#58;inherit;font-family&#58;inherit;margin&#58;0px 0px 0px 20px;padding&#58;0px;border&#58;0px currentcolor;vertical-align&#58;baseline;font-stretch&#58;inherit;"><li style="margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;border&#58;0px currentcolor;line-height&#58;16px;font-size&#58;14px;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;400;vertical-align&#58;baseline;font-stretch&#58;inherit;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;">Borrowers who refinanced through HARP had a lower delinquency rate compared to borrowers eligible for HARP who did not refinance through the program.<br></li><li style="margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;border&#58;0px currentcolor;line-height&#58;16px;font-size&#58;14px;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;400;vertical-align&#58;baseline;font-stretch&#58;inherit;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;">Nine states and one U.S. territory accounted for over 60 percent of the nation's HARP eligible loans with a refinance incentive as of June&#160;30, 2017.<br></li></ul></div>12/14/2017 4:00:37 PM437https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
U.S. House Price Index Report - 3Q 201723642<p style="margin&#58;0px 0px 10px;padding&#58;0px;border&#58;0px currentcolor;color&#58;#404040 !important;text-transform&#58;none;line-height&#58;22px;text-indent&#58;0px;letter-spacing&#58;normal;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;font-style&#58;normal;word-spacing&#58;0px;vertical-align&#58;baseline;white-space&#58;normal;orphans&#58;2;widows&#58;2;font-stretch&#58;inherit;background-color&#58;#ffffff;text-decoration-style&#58;initial;text-decoration-color&#58;initial;">U.S. house prices rose 1.4 percent in the third quarter of 2017 according to&#160;the Federal Housing Finance Agency (FHFA) House Price Index (HPI).&#160; House prices rose&#160;6.5 percent from the third quarter of 2016 to the third quarter of 2017.&#160; FHFA’s seasonally&#160;adjusted monthly index for September was up 0.3 percent from August. </p><p style="margin&#58;0px 0px 10px;padding&#58;0px;border&#58;0px currentcolor;color&#58;#404040 !important;text-transform&#58;none;line-height&#58;22px;text-indent&#58;0px;letter-spacing&#58;normal;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;font-style&#58;normal;word-spacing&#58;0px;vertical-align&#58;baseline;white-space&#58;normal;orphans&#58;2;widows&#58;2;font-stretch&#58;inherit;background-color&#58;#ffffff;text-decoration-style&#58;initial;text-decoration-color&#58;initial;">The HPI is calculated&#160;using home sales price information from mortgages sold to, or guaranteed by, Fannie Mae and&#160;Freddie Mac.&#160; FHFA has produced a&#160;<a href="https&#58;//youtu.be/_bcUNn3vIHk">video of highlights</a>&#160;for this quarter.</p><div style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;color&#58;#444444;text-transform&#58;none;line-height&#58;inherit;text-indent&#58;0px;letter-spacing&#58;normal;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;font-style&#58;normal;word-spacing&#58;0px;vertical-align&#58;baseline;white-space&#58;normal;orphans&#58;2;widows&#58;2;font-stretch&#58;inherit;background-color&#58;#ffffff;text-decoration-style&#58;initial;text-decoration-color&#58;initial;"><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;vertical-align&#58;baseline;font-stretch&#58;inherit;">Significant Findings</span></div><div style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;color&#58;#444444;text-transform&#58;none;line-height&#58;inherit;text-indent&#58;0px;letter-spacing&#58;normal;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;font-style&#58;normal;word-spacing&#58;0px;vertical-align&#58;baseline;white-space&#58;normal;orphans&#58;2;widows&#58;2;font-stretch&#58;inherit;background-color&#58;#ffffff;text-decoration-style&#58;initial;text-decoration-color&#58;initial;">&#160;</div><ul><li><div style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;color&#58;#444444;text-transform&#58;none;text-indent&#58;0px;letter-spacing&#58;normal;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;font-style&#58;normal;word-spacing&#58;0px;vertical-align&#58;baseline;white-space&#58;normal;orphans&#58;2;widows&#58;2;background-color&#58;#ffffff;text-decoration-style&#58;initial;text-decoration-color&#58;initial;">Home prices rose in 50 states and the District of Columbia between the third quarter of 2016 and the third quarter of 2017.&#160; The top five areas in annual appreciation were&#58; &#160;1) District of Columbia 11.6 percent; 2) Washington 11.5 percent; 3) Hawaii 10.0 percent; 4) Arizona 10.0 percent; and 5) Nevada 9.6 percent.<br></div></li><li><div style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;color&#58;#444444;text-transform&#58;none;text-indent&#58;0px;letter-spacing&#58;normal;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;font-style&#58;normal;word-spacing&#58;0px;vertical-align&#58;baseline;white-space&#58;normal;orphans&#58;2;widows&#58;2;background-color&#58;#ffffff;text-decoration-style&#58;initial;text-decoration-color&#58;initial;">Home prices rose in each of the 100 largest metropolitan areas in the U.S. over the last four quarters. &#160;Annual price increases were greatest in the Seattle-Bellevue-Everett, WA (MSAD), where prices increased by 14.6 percent.&#160; Prices were weakest in Camden, NJ (MSAD), where they rose 0.5 percent.</div></li></ul><ul><li><div style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;color&#58;#444444;text-transform&#58;none;text-indent&#58;0px;letter-spacing&#58;normal;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;font-style&#58;normal;word-spacing&#58;0px;vertical-align&#58;baseline;white-space&#58;normal;orphans&#58;2;widows&#58;2;background-color&#58;#ffffff;text-decoration-style&#58;initial;text-decoration-color&#58;initial;">Of the nine census divisions, the Pacific division experienced the strongest annual appreciation, posting an 8.9 percent gain since the third quarter of last year and a 1.7 percent increase since the second quarter of 2017. House price appreciation was weakest in the Middle Atlantic division, where prices rose 4.8 percent annually. </div></li></ul><p style="margin&#58;0px 0px 10px;padding&#58;0px;border&#58;0px currentcolor;color&#58;#404040 !important;text-transform&#58;none;line-height&#58;22px;text-indent&#58;0px;letter-spacing&#58;normal;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;font-style&#58;normal;font-weight&#58;400;word-spacing&#58;0px;vertical-align&#58;baseline;white-space&#58;normal;orphans&#58;2;widows&#58;2;font-stretch&#58;inherit;background-color&#58;#ffffff;text-decoration-style&#58;initial;text-decoration-color&#58;initial;">​<a href="/Media/PublicAffairs/Pages/US-House-Prices-Rise-1pt4-Percent-in-Third-Quarter-2017.aspx">Related News Release</a></p><p>Link to <a href="https&#58;//www.youtube.com/watch?v=w_1o6VLsC84&amp;t=1s">video</a> detailing the basic methodology behind the FHFA HPI.</p>11/28/2017 2:01:06 PM3503https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Refinance Report - Third Quarter 201724014<h2>Third&#160;Quarter 2017 Highlights<br><br></h2><div style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;color&#58;#444444;text-transform&#58;none;line-height&#58;inherit;text-indent&#58;0px;letter-spacing&#58;normal;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;font-style&#58;normal;font-weight&#58;400;word-spacing&#58;0px;vertical-align&#58;baseline;white-space&#58;normal;orphans&#58;2;widows&#58;2;font-stretch&#58;inherit;background-color&#58;#ffffff;text-decoration-style&#58;initial;text-decoration-color&#58;initial;"><ul style="font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;inherit;font-size&#58;inherit;line-height&#58;inherit;font-family&#58;inherit;margin&#58;0px 0px 0px 20px;padding&#58;0px;border&#58;0px currentcolor;vertical-align&#58;baseline;font-stretch&#58;inherit;"><li style="margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;border&#58;0px currentcolor;line-height&#58;16px;font-size&#58;14px;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;400;vertical-align&#58;baseline;font-stretch&#58;inherit;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;">Total refinance volume increased in September&#160;2017 as mortgage rates in August remained below the levels observed at the beginning of the year.&#160;&#160;Mortgage rates decreased in September&#58;&#160;the average interest rate on a 30-year fixed rate mortgage fell to 3.81 percent from 3.88&#160;percent in August.<br></li></ul></div><blockquote style="margin&#58;0px 0px 0px 40px;padding&#58;0px;border&#58;currentcolor;color&#58;#444444;text-transform&#58;none;line-height&#58;inherit;text-indent&#58;0px;letter-spacing&#58;normal;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;font-style&#58;normal;font-weight&#58;400;word-spacing&#58;0px;vertical-align&#58;baseline;white-space&#58;normal;orphans&#58;2;widows&#58;2;font-stretch&#58;inherit;background-color&#58;#ffffff;text-decoration-style&#58;initial;text-decoration-color&#58;initial;"><div style="font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;inherit;font-size&#58;inherit;line-height&#58;inherit;font-family&#58;inherit;margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;vertical-align&#58;baseline;font-stretch&#58;inherit;"><p style="margin&#58;0px 0px 10px;padding&#58;0px;border&#58;0px currentcolor;line-height&#58;22px;font-size&#58;14px;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;400;vertical-align&#58;baseline;font-stretch&#58;inherit;color&#58;#404040 !important;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;">In the third quarter of 2017&#58;</p></div></blockquote><div style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;color&#58;#444444;text-transform&#58;none;line-height&#58;inherit;text-indent&#58;0px;letter-spacing&#58;normal;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;font-style&#58;normal;font-weight&#58;400;word-spacing&#58;0px;vertical-align&#58;baseline;white-space&#58;normal;orphans&#58;2;widows&#58;2;font-stretch&#58;inherit;background-color&#58;#ffffff;text-decoration-style&#58;initial;text-decoration-color&#58;initial;"><ul style="font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;inherit;font-size&#58;inherit;line-height&#58;inherit;font-family&#58;inherit;margin&#58;0px 0px 0px 20px;padding&#58;0px;border&#58;0px currentcolor;vertical-align&#58;baseline;font-stretch&#58;inherit;"><ul style="font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;inherit;font-size&#58;inherit;line-height&#58;inherit;font-family&#58;inherit;margin&#58;0px 0px 0px 20px;padding&#58;0px;border&#58;0px currentcolor;vertical-align&#58;baseline;font-stretch&#58;inherit;"><li style="margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;border&#58;0px currentcolor;line-height&#58;16px;font-size&#58;14px;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;400;vertical-align&#58;baseline;font-stretch&#58;inherit;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;">Borrowers completed 6,913&#160;refinances through HARP, bringing total refinances from the inception of the program to 3,477,717.</li><li style="margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;border&#58;0px currentcolor;line-height&#58;16px;font-size&#58;14px;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;400;vertical-align&#58;baseline;font-stretch&#58;inherit;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;">HARP volume represented 2&#160;percent of total refinance volume.</li></ul></ul></div><div style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;color&#58;#444444;text-transform&#58;none;line-height&#58;inherit;text-indent&#58;0px;letter-spacing&#58;normal;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;font-style&#58;normal;font-weight&#58;400;word-spacing&#58;0px;vertical-align&#58;baseline;white-space&#58;normal;orphans&#58;2;widows&#58;2;font-stretch&#58;inherit;background-color&#58;#ffffff;text-decoration-style&#58;initial;text-decoration-color&#58;initial;">&#160;&#160;<span>&#160;</span><br></div><blockquote style="margin&#58;0px 0px 0px 40px;padding&#58;0px;border&#58;currentcolor;color&#58;#444444;text-transform&#58;none;line-height&#58;inherit;text-indent&#58;0px;letter-spacing&#58;normal;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;font-style&#58;normal;font-weight&#58;400;word-spacing&#58;0px;vertical-align&#58;baseline;white-space&#58;normal;orphans&#58;2;widows&#58;2;font-stretch&#58;inherit;background-color&#58;#ffffff;text-decoration-style&#58;initial;text-decoration-color&#58;initial;"><div style="font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;inherit;font-size&#58;inherit;line-height&#58;inherit;font-family&#58;inherit;margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;vertical-align&#58;baseline;font-stretch&#58;inherit;">Year to date through September 2017&#58;</div></blockquote><div style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;color&#58;#444444;text-transform&#58;none;line-height&#58;inherit;text-indent&#58;0px;letter-spacing&#58;normal;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;font-style&#58;normal;font-weight&#58;400;word-spacing&#58;0px;vertical-align&#58;baseline;white-space&#58;normal;orphans&#58;2;widows&#58;2;font-stretch&#58;inherit;background-color&#58;#ffffff;text-decoration-style&#58;initial;text-decoration-color&#58;initial;"> <br> </div><div style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;color&#58;#444444;text-transform&#58;none;line-height&#58;inherit;text-indent&#58;0px;letter-spacing&#58;normal;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;font-style&#58;normal;font-weight&#58;400;word-spacing&#58;0px;vertical-align&#58;baseline;white-space&#58;normal;orphans&#58;2;widows&#58;2;font-stretch&#58;inherit;background-color&#58;#ffffff;text-decoration-style&#58;initial;text-decoration-color&#58;initial;"><ul style="font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;inherit;font-size&#58;inherit;line-height&#58;inherit;font-family&#58;inherit;margin&#58;0px 0px 0px 20px;padding&#58;0px;border&#58;0px currentcolor;vertical-align&#58;baseline;font-stretch&#58;inherit;"><ul style="font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;inherit;font-size&#58;inherit;line-height&#58;inherit;font-family&#58;inherit;margin&#58;0px 0px 0px 20px;padding&#58;0px;border&#58;0px currentcolor;vertical-align&#58;baseline;font-stretch&#58;inherit;"><li style="margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;border&#58;0px currentcolor;line-height&#58;16px;font-size&#58;14px;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;400;vertical-align&#58;baseline;font-stretch&#58;inherit;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;">Borrowers with loan-to-value ratios greater than 105 percent accounted for 19 percent of the volume of HARP loans.</li><li style="margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;border&#58;0px currentcolor;line-height&#58;16px;font-size&#58;14px;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;400;vertical-align&#58;baseline;font-stretch&#58;inherit;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;">Twenty-six percent of HARP refinances for underwater borrowers were for shorter-term 15- and 20-year mortgages, which build equity faster than traditional 30-year mortgages.</li><li style="margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;border&#58;0px currentcolor;line-height&#58;16px;font-size&#58;14px;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;400;vertical-align&#58;baseline;font-stretch&#58;inherit;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;">HARP refinances represented 5&#160;or more percent of total refinances in Nevada, Georgia, Illinois,&#160;and Florida -- more than&#160;double the 2 percent of total refinances nationwide over the same period.<br></li></ul></ul><ul style="font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;inherit;font-size&#58;inherit;line-height&#58;inherit;font-family&#58;inherit;margin&#58;0px 0px 0px 20px;padding&#58;0px;border&#58;0px currentcolor;vertical-align&#58;baseline;font-stretch&#58;inherit;"><li style="margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;border&#58;0px currentcolor;line-height&#58;16px;font-size&#58;14px;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;400;vertical-align&#58;baseline;font-stretch&#58;inherit;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;">In September&#160;2017, 6 percent of the loans refinanced through HARP had a loan-to-value ratio greater than 125 percent.</li><li style="margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;border&#58;0px currentcolor;line-height&#58;16px;font-size&#58;14px;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;400;vertical-align&#58;baseline;font-stretch&#58;inherit;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;">Borrowers who refinanced through HARP had a lower delinquency rate compared to borrowers eligible for HARP who did not refinance through the program.</li><li style="margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;border&#58;0px currentcolor;line-height&#58;16px;font-size&#58;14px;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;400;vertical-align&#58;baseline;font-stretch&#58;inherit;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;">Nine states and one U.S. territory accounted for over 60 percent of the nation's HARP eligible loans with a refinance incentive as of June&#160;30, 2017.</li></ul><div style="font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;inherit;font-size&#58;inherit;line-height&#58;inherit;font-family&#58;inherit;margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;vertical-align&#58;baseline;font-stretch&#58;inherit;"> <br> <a href="/Media/PublicAffairs/Pages/Total-Refinance-Volume-Ticks-Up-Slightly-in-Third-Quarter.aspx">Related News Release</a></div></div>11/16/2017 4:01:08 PM368https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Foreclosure Prevention Report - August 201723159<div aria-labelledby="ctl00_PlaceHolderMain_ctl03_label" style="display&#58;inline;"><div class="custom-contentTypeContent"><p>AUGUST 2017&#160;HIGHLIGHTS</p><p><strong>The Enterprises' Foreclosure Prevention Actions&#58;</strong></p><ul style="list-style-type&#58;disc;"><li>The Enterprises completed 15,298 foreclosure prevention actions in August, bringing the total to 3,960,367 since the start of the conservatorships in September 2008. Over half of these actions have been permanent loan modifications.</li><li>There were 11,234&#160;permanent loan modifications in August, bringing the total to 2,109,381&#160;since the conservatorships began in September 2008.</li><li>The share of modifications with principal forbearance increased to&#160;34&#160;percent while modifications&#160;with extend-term only decreased slightly to&#160;46 percent&#160;in August.</li><li>There were 1,277&#160;short sales and deeds-in-lieu of foreclosure completed in August, up 4&#160;percent compared with July.</li></ul><p><strong>The Enterprises' Mortgage Performance&#58;</strong></p><ul style="list-style-type&#58;disc;"><li>The serious delinquency rate fell slightly from 0.94&#160;percent at the end of July to 0.93 percent at the end of August.</li></ul><p><strong>The Enterprises' Foreclosures&#58;</strong></p><ul style="list-style-type&#58;disc;"><li>Third-party and foreclosure sales increased&#160;from 5,117 in July to 5,612&#160;in August.</li><li>Foreclosure starts increased from 12,255&#160;in July to 17,652&#160;in August.</li></ul></div></div>11/7/2017 4:00:33 PM444https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
U.S. House Price Index Report - August 201711901<p>​The FHFA House Price Index (HPI) reported<strong> </strong>a 0.7 percent increase<strong> </strong>in U.S. house prices in August from the previous month.&#160; From August 2016 to August 2017, house prices were up 6.6 percent.&#160; For the nine census divisions, seasonally adjusted monthly price changes from July 2017 to August 2017 ranged from -0.1 percent in the New England division to +1.4 percent in the Pacific division.&#160; The 12-month changes were all positive ranging from +5.0 percent in the Middle Atlantic division to +9.3 in the Pacific division.</p><p>Monthly index values and appreciation rate estimates for recent periods are provided in the table and graphs in the attachment. </p><p><a href="/Media/PublicAffairs/Pages/FHFA-House-Price-Index-Up-0pt7-Percent-in-August-2017.aspx">Related News Release </a></p>10/25/2017 1:00:53 PM2487https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Refinance Report - August 201711803<h2 style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;color&#58;#404040;text-transform&#58;none;line-height&#58;1.4;text-indent&#58;0px;letter-spacing&#58;normal;font-family&#58;lato, sans-serif;font-size&#58;22px;font-style&#58;normal;font-weight&#58;900;word-spacing&#58;0px;vertical-align&#58;baseline;white-space&#58;normal;orphans&#58;2;widows&#58;2;font-stretch&#58;inherit;background-color&#58;#ffffff;">August 2017&#160;Highlights&#160;</h2><p style="margin&#58;0px 0px 10px;padding&#58;0px;border&#58;0px currentcolor;color&#58;#404040 !important;text-transform&#58;none;line-height&#58;22px;text-indent&#58;0px;letter-spacing&#58;normal;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;font-style&#58;normal;font-weight&#58;normal;word-spacing&#58;0px;vertical-align&#58;baseline;white-space&#58;normal;orphans&#58;2;widows&#58;2;font-stretch&#58;inherit;background-color&#58;#ffffff;"><span style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;line-height&#58;22px;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;font-size&#58;14px !important;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;400 !important;vertical-align&#58;baseline;font-stretch&#58;inherit;">Total refinance&#160;volume increased in August 2017&#160;as mortgage rates in July remained below the levels observed at the beginning of the year.&#160; Mortgage rates decreased in August&#58; the average interest rate on a 30-year fixed rate mortgage fell to 3.88 percent from 3.97 percent in July.</span></p><p style="margin&#58;0px 0px 10px;padding&#58;0px;border&#58;0px currentcolor;color&#58;#404040 !important;text-transform&#58;none;line-height&#58;22px;text-indent&#58;0px;letter-spacing&#58;normal;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;font-style&#58;normal;font-weight&#58;normal;word-spacing&#58;0px;vertical-align&#58;baseline;white-space&#58;normal;orphans&#58;2;widows&#58;2;font-stretch&#58;inherit;background-color&#58;#ffffff;"><span style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;line-height&#58;22px;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;font-size&#58;14px !important;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;400 !important;vertical-align&#58;baseline;font-stretch&#58;inherit;">In August 2017&#58;</span></p><ul style="margin&#58;0px 0px 0px 20px;padding&#58;0px;border&#58;0px currentcolor;text-transform&#58;none;line-height&#58;inherit;text-indent&#58;0px;letter-spacing&#58;normal;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;font-style&#58;normal;font-weight&#58;normal;word-spacing&#58;0px;vertical-align&#58;baseline;white-space&#58;normal;orphans&#58;2;widows&#58;2;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-family&#58;&quot;source sans pro&quot;, sans-serif !important;font-size&#58;14px;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;400;vertical-align&#58;baseline;font-stretch&#58;inherit;"><font color="#444444"><span style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;line-height&#58;22px;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;font-size&#58;14px !important;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;400 !important;vertical-align&#58;baseline;font-stretch&#58;inherit;">Borrowers completed 2,379 refinances through HARP, bringing total refinances from the inception of the program to 3,475,488.</span><br></font></li><li style="margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;border&#58;0px currentcolor;line-height&#58;16px;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;font-size&#58;14px;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;400;vertical-align&#58;baseline;font-stretch&#58;inherit;"><font color="#444444"><span style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;line-height&#58;22px;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;font-size&#58;14px !important;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;400 !important;vertical-align&#58;baseline;font-stretch&#58;inherit;">HARP volume represented 2&#160;percent of total refinance volume.</span><br></font></li><li style="margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;border&#58;0px currentcolor;line-height&#58;16px;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;font-size&#58;14px;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;400;vertical-align&#58;baseline;font-stretch&#58;inherit;"><font color="#444444"><span style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;line-height&#58;22px;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;font-size&#58;14px !important;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;400 !important;vertical-align&#58;baseline;font-stretch&#58;inherit;">Seven percent of the loans refinanced through HARP had a&#160;loan‐to‐value ratio&#160;greater than 125 percent.</span><br></font></li></ul><span style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;color&#58;#444444;text-transform&#58;none;line-height&#58;22px;text-indent&#58;0px;letter-spacing&#58;normal;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;font-style&#58;normal;font-weight&#58;normal;word-spacing&#58;0px;vertical-align&#58;baseline;white-space&#58;normal;orphans&#58;2;widows&#58;2;font-stretch&#58;inherit;background-color&#58;#ffffff;">Year to date through August 2017&#58;&#160;</span><br style="color&#58;#444444;text-transform&#58;none;text-indent&#58;0px;letter-spacing&#58;normal;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;font-style&#58;normal;font-weight&#58;normal;word-spacing&#58;0px;white-space&#58;normal;orphans&#58;2;widows&#58;2;background-color&#58;#ffffff;"><span style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;color&#58;#444444;text-transform&#58;none;line-height&#58;22px;text-indent&#58;0px;letter-spacing&#58;normal;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;font-style&#58;normal;font-weight&#58;normal;word-spacing&#58;0px;vertical-align&#58;baseline;white-space&#58;normal;orphans&#58;2;widows&#58;2;font-stretch&#58;inherit;background-color&#58;#ffffff;"><ul style="font&#58;inherit;margin&#58;0px 0px 0px 20px;padding&#58;0px;border&#58;0px currentcolor;vertical-align&#58;baseline;font-size-adjust&#58;inherit;font-stretch&#58;inherit;"><li style="margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;border&#58;0px currentcolor;line-height&#58;16px;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;font-size&#58;14px;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;400;vertical-align&#58;baseline;font-stretch&#58;inherit;"><span style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;color&#58;#404040;line-height&#58;22px;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;font-size&#58;14px !important;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;400 !important;vertical-align&#58;baseline;font-stretch&#58;inherit;">Borrowers with loan‐to‐value ratios greater than 105 percent accounted for 19 percent of the volume of HARP loans.</span><br></li><li style="margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;border&#58;0px currentcolor;line-height&#58;16px;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;font-size&#58;14px;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;400;vertical-align&#58;baseline;font-stretch&#58;inherit;"><span style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;color&#58;#404040;line-height&#58;22px;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;font-size&#58;14px !important;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;400 !important;vertical-align&#58;baseline;font-stretch&#58;inherit;">Twenty-six percent of HARP refinances for underwater borrowers were for shorter-term 15- and&#160;20‐year mortgages, which build equity faster than traditional 30‐y</span><span style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;color&#58;#404040;line-height&#58;22px;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;font-size&#58;14px !important;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;400 !important;vertical-align&#58;baseline;font-stretch&#58;inherit;">ear mortgages.</span><br></li><li style="margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;border&#58;0px currentcolor;line-height&#58;16px;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;font-size&#58;14px;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;400;vertical-align&#58;baseline;font-stretch&#58;inherit;"><span style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;color&#58;#404040;line-height&#58;22px;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;font-size&#58;14px !important;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;400 !important;vertical-align&#58;baseline;font-stretch&#58;inherit;">HARP&#160;refinances represented&#160;6 or more percent of total refinances in Nevada, double the 3&#160;percent of total refinances nationwide over the same period.</span><br></li></ul></span><span style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;color&#58;#444444;text-transform&#58;none;line-height&#58;22px;text-indent&#58;0px;letter-spacing&#58;normal;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;font-style&#58;normal;font-weight&#58;normal;word-spacing&#58;0px;vertical-align&#58;baseline;white-space&#58;normal;orphans&#58;2;widows&#58;2;font-stretch&#58;inherit;background-color&#58;#ffffff;">Borrowers who refinanced through HARP had a lower delinquency rate compared to borrowers eligible for HARP who did not refinance through the program.</span><br style="color&#58;#444444;text-transform&#58;none;text-indent&#58;0px;letter-spacing&#58;normal;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;font-style&#58;normal;font-weight&#58;normal;word-spacing&#58;0px;white-space&#58;normal;orphans&#58;2;widows&#58;2;background-color&#58;#ffffff;"><span style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;color&#58;#444444;text-transform&#58;none;line-height&#58;22px;text-indent&#58;0px;letter-spacing&#58;normal;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;font-style&#58;normal;font-weight&#58;normal;word-spacing&#58;0px;vertical-align&#58;baseline;white-space&#58;normal;orphans&#58;2;widows&#58;2;font-stretch&#58;inherit;background-color&#58;#ffffff;">Nine states and one U.S. territory accounted for over 60 percent of the nation's HARP eligible loans with a refinance incentive as of March 31, 2017.</span><font color="#000000" face="Times New Roman" size="3"> </font>10/17/2017 2:00:43 PM529https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx

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