Reports and Plans

 

 

Refinance Report - August 201825495<h2 style="font-family&#58;lato, sans-serif;border-color&#58;currentcolor;font-style&#58;normal;">​​August 2018&#160;Highlights&#160;<br></h2><ul style="border-color&#58;currentcolor;font-style&#58;normal;font-family&#58;&quot;source sans pro&quot;, sans-serif;"><li>Total refinance&#160;volume increased in August 2018&#160;as mortgage rates in July fell, continuing a trend also observed in June. Mortgage&#160;rates increased in August&#58; the average interest rate on a 30-year fixed rate mortgage rose&#160;to 4.55&#160;percent from 4.53&#160;percent in July.<br></li></ul><blockquote style="margin&#58;0px 0px 0px 40px;border&#58;none;padding&#58;0px;"><p style="border-color&#58;currentcolor;font-style&#58;normal;font-family&#58;&quot;source sans pro&quot;, sans-serif;"><span style="border-color&#58;currentcolor;line-height&#58;22px;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;">In August 2018&#58;</span></p></blockquote><ul><ul><li>Borrowers completed 651 refinances through HARP, bringing total refinances from the inception of the program to 3,492,487​.</li><li>HARP volume represented 1&#160;percent of total refinance volume.</li><li>Five&#160;percent of the loans refinanced through HARP had a&#160;loan‐to‐value ratio&#160;greater than 125 percent.</li></ul></ul><blockquote style="margin&#58;0px 0px 0px 40px;border&#58;none;padding&#58;0px;"><p>​Year to date through August 2018&#58;&#160;</p></blockquote><ul><ul><li>Borrowers with loan‐to‐value ratios greater than 105 percent accounted for 16&#160;percent of the volume of HARP loans.</li><li>Thirty-three&#160;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 style="border-color&#58;currentcolor;line-height&#58;22px;font-family&#58;&quot;source sans pro&quot;, sans-serif !important;">ear mortgages.</span></li><li>HARP&#160;refinances represented 3&#160;percent of total refinances in Illinois compared to 1 percent of total refinances nationwide over the same period.</li></ul><li>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>Ten&#160;states accounted for over 70 percent of the nation's HARP eligible loans with a refinance incentive as of March 31, 2017.<span style="font-family&#58;inherit;font-size&#58;inherit;font-weight&#58;inherit;color&#58;#444444;">​</span><br></li></ul><span style="border-color&#58;currentcolor;font-style&#58;normal;line-height&#58;22px;font-family&#58;&quot;source sans pro&quot;, sans-serif;color&#58;#444444;"></span>10/16/2018 3:00:38 PMHome / About FHFA / Reports / Refinance Report - August 2018 Refinance Report 119https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Foreclosure Prevention Report - July 201825854<h3>July 2018 Highlights<br></h3><p><strong>The Enterprises' Foreclosure Prevention Actions&#58;</strong></p><ul><li>The Enterprises completed 24,030 foreclosure prevention actions in July, bringing the total to 4,203,611 since the start of the conservatorships in September 2008. Over half of these actions have been permanent loan modifications.<br></li><li>There were 18,874 permanent loan modifications in July, bringing the total to 2,257,644 since the conservatorships began in September 2008.<br></li><li>Twenty-two percent of modifications in July were modifications with principal forbearance. Modifications with extend-term only accounted for 56 percent of all loan modifications during the month.<br></li><li>There were 777 short sales and deeds-in-lieu of foreclosure completed in July, down 11 percent compared with June.<br></li></ul><p><strong>The Enterprises' Mortgage Performance&#58;</strong></p><ul><li>The serious delinquency rate dropped from 0.91 percent at the end of June to 0.84 percent at the end of July.<br></li></ul><p><strong>The Enterprises' Foreclosures&#58;</strong><br></p><ul><li>Third-party and foreclosure sales decreased from 4,430 in June to 4,116 in July.<br></li><li>Foreclosure starts increased from 10,860 in June to 11,639 in July.<br></li></ul>10/11/2018 3:00:43 PMHome / About FHFA / Reports / Foreclosure Prevention Report - July 2018 Foreclosure Prevention and Federal 141https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Foreclosure Prevention Report - Second Quarter 201825677<h1>​Second Quarter 2018&#160;Highlights</h1><p><strong>The Enterprises' Foreclosure Prevention Actions&#58;</strong></p><ul><li>The Enterprises completed 70,945 foreclosure prevention actions in the second quarter, bringing the total to 4,179,581 since the start of conservatorships in September 2008.&#160; Of these actions, 3,491,670 have helped troubled homeowners stay in their homes, including 2,238,770 permanent loan modifications.<br></li><li>Tweinty-five percent of&#160;modifications&#160;in the second quarter were modifications with principal forbearance.&#160; Modifications with extend-term only accounted for 49 percent of all loan modifications during the quarter.&#160;&#160;<br></li><li>There were 2,612 completed short sales and deeds-in-lieu during the quarter, bringing the total to&#160; 687,911 since the conservatorships began in September in 2008.<br></li></ul><p><strong>The Enterprises' Mortgage Performance&#58;</strong></p><ul><li>The percentage of&#160;60+ days delinquent loans dropped from 1.4 percent at the end of the first quarter to 1.2 percent at the end of the second quarter.<br></li><li>The Enterprises' serious (90 days or more)&#160;delinquency rate decreased to&#160;0.91 percent at the end of the second quarter. This compared with 3.9 percent for Federal Housing Administration (FHA) loans, 2.0 percent for Veterans Affairs (VA) loans, and 2.3&#160;percent for all loans (industry average).<br></li></ul><p><strong>The Enterprises' Foreclosures&#58;</strong></p><p>Foreclosure starts declined 16 percent to 39,002, and third-party and foreclosure sales decreased 3 percent to 13,464 in the second quarter.<br><a href="/Media/PublicAffairs/Pages/Foreclosure-Preventions-Near-4pt2-Million-In-FHFAs-Second-Quarter-2018-Report.aspx">Related News Release</a><br></p><div>​For an interactive online map that provides state data, click on the following link&#58; <a href="/DataTools/Tools/Pages/Borrower-Assistance-Map.aspx"><em>F</em><em>annie Mae and Freddie Mac State Borrower Assistance Map&#160;</em></a><br></div>9/26/2018 3:00:53 PMHome / About FHFA / Reports / Foreclosure Prevention Report - Second Quarter 2018 Foreclosure Prevention 256https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx