February 2026 Highlights - Foreclosure Prevention
The Enterprises' Foreclosure Prevention Actions:
- The Enterprises completed 19,152 foreclosure prevention actions in February 2026, bringing the total to 7,358,410 since the start of the conservatorships in September 2008. Approximately 38.6 percent of these actions have been permanent loan modifications.
- There were 6,198 permanent loan modifications in February 2026, bringing the total to 2,843,106 since the conservatorships began in September 2008.
- Approximately 35.4 percent of loan modifications in February involved extend term only. Modifications with principal forbearance accounted for 63.6 percent of all loan modifications during the month.
- The number of borrowers who received payment deferrals after completing a forbearance plan decreased from 7,344 in January to 7,083 in February 2026.
- Initiated forbearance plans decreased from 9,567 in January to 8,997 in February 2026. The total number of loans in forbearance also fell from 42,733 at the end of January to 39,318 at the end of February, representing approximately 0.13 percent of the total loans serviced and 6.60 percent of the total delinquent loans.
The Enterprises' Mortgage Performance:
- The 30-59-day delinquency rate rose to 1.10 percent while the serious delinquency rate increased to 0.60 percent at the end of February 2026.
The Enterprises' Foreclosures:
- Third-party and foreclosure sales decreased 3.9 percent to 1,203 while foreclosure starts declined 2.2 percent to 8,414 in February 2026.
February 2026 Highlights - Refinance Activities
- Total refinance volume rose in February 2026, driven by the continued decline in mortgage rates. The average 30‑year fixed mortgage rate fell to 6.05 percent in February, down from 6.10 percent in January 2026.
- The share of cash‑out refinances decreased to 34.4 percent of total refinance activity in February 2026, after reaching a peak of 82.4 percent in September 2022.