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News Release

Foreclosure Prevention Actions Near 3.5 Million Through First Quarter 2015

FOR IMMEDIATE RELEASE
6/23/2015

Washington, D.C. –  The Federal Housing Finance Agency (FHFA) today reported that Fannie Mae and Freddie Mac completed 65,960 foreclosure prevention actions in the first quarter of 2015, bringing the total foreclosure prevention actions to nearly 3.5 million since the start of the conservatorships in September 2008.  These measures have helped nearly 2.9 million borrowers stay in their homes, including 1.8 million who received permanent loan modifications.  

Further details can be found in FHFA’s first quarter Foreclosure Prevention Report, which also includes data on Fannie Mae and Freddie Mac home retention actions, delinquency data and real estate owned (REO) inventory.  FHFA publishes the report data in an online, interactive Borrower Assistance Map accessible through FHFA.gov. 

Other foreclosure prevention data for Fannie Mae and Freddie Mac noted in the quarterly report include:

  • Approximately 31 percent of all permanent loan modifications in the first quarter helped to reduce homeowners’ monthly payments by over 30 percent.
  • The number of 60+ day delinquent loans declined another 9 percent during the quarter.
  • The serious delinquency rate of Fannie Mae and Freddie Mac loans fell to 1.8 percent at the end of the first quarter.
  • The REO inventory of Fannie Mae and Freddie Mac declined 10 percent during the first quarter to 100,279 as property dispositions continued to outpace property acquisitions.

Link to Report

Attachments:

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The Federal Housing Finance Agency regulates Fannie Mae, Freddie Mac and the 11 Federal Home Loan Banks. These government-sponsored enterprises provide more than $5.6 trillion in funding for the U.S. mortgage markets and financial institutions. Additional information is available at www.FHFA.gov, on Twitter @FHFA, YouTube and LinkedIn.
Contacts:

Media: Corinne Russell (202) 649-3032 / Stefanie Johnson (202) 649-3030
Consumers: Consumer Communications or (202) 649-3811

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