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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 PM110https://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 PM220https://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 PM1816https://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 PM418https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Fannie Mae and Freddie Mac Single-Family Guarantee Fees in 201611812<p>Section 1601 of the Housing and Economic Recovery Act of 2008 (HERA) requires the Federal Housing Finance Agency (FHFA) to conduct an ongoing study of the guarantee fees charged by Fannie Mae and Freddie Mac (the Enterprises) and to submit a report to Congress each year.<br></p><p>HERA requires an analysis of the average guarantee fee and a breakdown by product type, risk class, and volume of a lender’s business. The report also must analyze the costs of providing the guarantee and provide a comparison to the prior year. FHFA issued the first such report in 2009.&#160;</p><p>This report discusses the guarantee fees charged in 2016 and provides a five-year perspective with data back to 2012. The major findings in this report are&#58;</p><ul><li>For all loan products combined, the average single-family guarantee fee fell by 2 basis points from 59 basis points to 57 basis points in 2016. The upfront portion of the guarantee fee, which is based on the credit risk attributes (e.g., loan purpose, loan-to-value ratio, and credit score), remained unchanged at 16 basis points. The ongoing portion of the guarantee fee, which is based on the product type (fixed-rate or ARM, and loan term) fell from 42 basis points to 40 basis points. Ongoing fees fell primarily because of competitive pressures between the Enterprises, and less because of changes in the product type mix from 2015.</li><li>The average guarantee fee in 2016 on fixed-rate, 30-year loans fell by 2 basis points to 61 basis points, while the fee on fixed-rate, 15-year loans fell by 4 basis points to 37 basis points. The pricing on adjustable-rate mortgage (ARM) loans remained steady at 59 basis points.<br></li><li>The lower guarantee fees in 2016 resulted in a small decline in the expected profitability of the loan acquisitions. The Enterprises measure expected profitability as the difference between the total charged guarantee fee and modeled costs, including a targeted return on the modeled economic capital calculated for these loans.</li><li>In 2016, extra-small lenders paid, on average, 2 basis points less than extra-large lenders in total guarantee fees. Since 2013, the guarantee fees among the size groups has been comparable, with only small differences in a given year.&#160;</li><li>Based on quarterly monitoring of guarantee fees, FHFA observed that average fees were declining as the ongoing portion of the overall guarantee fees declined for both Enterprises. FHFA responded by issuing direction in July 2016 to set minimum ongoing guarantee fees by&#160;product type, effective in November 2016, consistent with our responsibility to ensure safety and soundness.</li></ul><div><p>Questions and comments about this report may be addressed to FHFA at&#58;&#160;&#160;<a href="/AboutUs/Contact/Pages/General-Questions-and-Comments.aspx">https&#58;//www.fhfa.gov/AboutUs/Contact/Pages/General-Questions-and-Comments.aspx</a></p></div><p><a href="/Media/PublicAffairs/Pages/FHFA-Issues-2016-Report-to-Congress-on-Guarantee-Fees.aspx">Related News Release</a><br></p>10/17/2017 5:00:46 PM603https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Foreclosure Prevention Report - July 201724160<p>JULY 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 13,845 foreclosure prevention actions in July, bringing the total to 3,945,069&#160;since the start of the conservatorships in September 2008. Over half of these actions have been permanent loan modifications.</li><li>There were 10,217&#160;permanent loan modifications in July, bringing the total to 2,098,147&#160;since the conservatorships began in September 2008.</li><li>Approximately 77 percent of borrowers who received permanent modification in July were three or more months delinquent at the beginning of the trial period, down from 81 percent in June.</li><li>The share of modifications with principal forbearance increased to&#160;30&#160;percent of all&#160;permanent modifications in July.&#160;Modifications with extend-term only remained at 47 percent&#160;due to continuing improvement in house prices.</li><li>There were 1,223&#160;short sales and deeds-in-lieu completed in July, down 24&#160;percent compared with June.</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 0.95&#160;percent at the end of June to 0.94 percent at the end of July.</li></ul><p><strong>The Enterprises' Foreclosures&#58;</strong></p><ul style="list-style-type&#58;disc;"><li>Third-party and foreclosure sales decreased 14 percent from 5,977 in June to 5,177&#160;in July.</li><li>Foreclosure starts declined 6&#160;percent from 13,028&#160;in June to 12,255&#160;in July.</li></ul>10/11/2017 3:00:57 PM461https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
2016 Low-Income Housing and Community Development Activities of the Federal Home Loan Banks23976<p>​<span style="color&#58;#404040;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;background-color&#58;#ffffff;">​</span><span 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;padding&#58;0px;color&#58;#404040;background-color&#58;#ffffff;">FHFA is required to monitor and report annually on the Federal Home Loan Banks' support of their low-income housing and community development activities to the Federal Home Loan Banks' Advisory Councils.&#160; This report fulfills that requirement.</span><br></p>10/2/2017 6:02:09 PM538https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Foreclosure Prevention Report - Second Quarter 201723645<h2>Second Quarter 2017 Highlights<br></h2><p> <br> </p><p> <strong>The Enterprises' Foreclosure Prevention Actions&#58;</strong><br></p><ul><li>The Enterprises completed 48,760 foreclosure prevention modifications.<br></li><li>The share of modifications with principal forbearance increased to 28 percent in the second quarter. Modifications with extend-term only accounted for 43 percent of all loan modifications during the quarter due to improved house prices and expiration of the Home Affordable Modification Program (HAMP).<br></li><li>As of June 30, 2017, approximately 20 percent of loans modified in the second quarter of 2016 had missed two or more payments, one year after modification.<br></li><li>There were 4,757 completed short sales and deeds-in-lieu during the quarter, bringing the total to 675,759 since the conservatorships began in September in 2008.<br></li></ul><p> <strong>The Enterprises' Mortgage Performance&#58;</strong></p><ul><li>The number of 60+ days delinquent loans declined 6 percent to 354,178 at the end of the second quarter, from 377,622 at the end of the first quarter.<br></li><li>The Enterprises' serious delinquency rate fell to 0.9 percent at the end of the second quarter, the lowest level since January of 2008. This compared with 3.8 percent for Federal Housing Administration (FHA) loans, 2.0 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></p><ul><li>Foreclosure starts fell 11 percent to 44,989 while third-party and foreclosure sales decreased 9 percent to 17,542 in the second quarter.<br><br></li></ul><p><a href="/Media/PublicAffairs/Pages/FHFA-Second-Quarter-Foreclosure-Prevention-Report-Shows-Foreclosure-Preventions-Surpass-3-9-Million.aspx">Related News Release</a><br></p><p><span style="font-style&#58;normal;">For an interactive online map that provides state data, click on the following link&#58;&#160;</span><a href="/DataTools/Tools/Pages/Borrower-Assistance-Map.aspx" style="font-style&#58;normal;font-size&#58;14px;font-family&#58;&quot;source sans pro&quot;, sans-serif;"><em>Fannie Mae and Freddie Mac State&#160;Borrower Assistance Map</em></a><em style="font-weight&#58;normal;font-size&#58;14px;font-family&#58;&quot;source sans pro&quot;, sans-serif;color&#58;#404040;">&#160;</em><br></p>9/27/2017 5:01:01 PM349https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
U.S. House Price Index Report - July 201723594<p>The FHFA House Price Index (HPI) reported a&#160;0.2 percent increase in U.S. house prices in July from&#160;the previous month.&#160; From July 2016 to July 2017, house prices were up 6.3 percent.&#160; For the nine census divisions, seasonally adjusted monthly price changes from June 2017 to July 2017 ranged from -0.5 percent in the West North Central and Pacific divisions to +0.6 percent in the East North Central division.&#160; The 12-month changes were all positive, ranging from +4.2 percent in the West North Central division to +8.2 percent in the Mountain and Pacific divisions.</p><p>Monthly index values and appreciation rate estimates for recent periods are provided in the table and graphs in the attachment.&#160;</p><p><a href="/Media/PublicAffairs/Pages/FHFA-House-Price-Index-Up-0-2-Percent-in-July.aspx">Related News Release</a></p>9/21/2017 1:00:07 PM2308https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Refinance Report - July 201717950<h2>July 2017 Highlights</h2><p>Total refinance volume decreased in July 2017 as mortgage rates in June remained above the lows observed in 2016. Mortgage rates increased in July&#58; the average interest rate on a 30-year fixed rate mortgage rose to 3.97 percent from 3.90 percent in June.</p><p>In July 2017&#58;&#160;<br></p><ul><li>Borrowers completed 2,305 refinances through HARP, bringing total refinances from the inception of the program to&#160;3,473,109.</li><li>HARP volume represented 2 percent of total refinance volume.<br></li><li>Seven percent of the loans refinanced through HARP had a loan-to-value ratio greater than 125 percent.<br></li></ul><p>Year to date through July 2017&#58;</p><ul><li>Borrowers with loan-to-value ratios greater than 105 percent accounted for 19 percent of the volume of HARP loans.<br></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.<br></li><li>HARP refinances represented 6 or more percent of total refinances in Nevada, and Florida, double the 3 percent of total refinances nationwide over the same period.<br></li></ul><p>Borrowers who refinanced through HARP had a lower delinquency rate compared to borrowers eligible for HARP who did not refinance through the program.</p><p>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.<br></p>10/16/2017 9:25:46 PM444https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx

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