1Q26 Highlights -- Foreclosure Prevention
The Enterprises' Foreclosure Prevention Actions:
- The Enterprises completed 58,317 foreclosure prevention actions in the first quarter of 2026, bringing the total to 7,377,245 since the start of conservatorships in September 2008. Of these actions, 6,670,417 have helped troubled homeowners stay in their homes, including 2,850,221 permanent loan modifications.
- Initiated forbearance plans decreased to 27,477 in the first quarter of 2026, down from 44,688 in the fourth quarter of 2025. At quarter‑end, 37,196 loans remained in forbearance, representing approximately 0.12 percent of total loans serviced and 7.06 percent of total delinquent loans.
- Sixty three percent of modifications in the first quarter of 2026 were modifications with principal forbearance. Modifications that include extend-term only, accounted for 36.1 percent of all loan modifications during the quarter.
- There were 313 completed short sales and deeds-in-lieu during the quarter, bringing the total to 706,828 since the conservatorships began in September 2008.
The Enterprises' Mortgage Performance:
- The 60+ days delinquency rate decreased from 0.84 percent at the end of the fourth quarter of 2025 to 0.81 percent at the end of the first quarter of 2026.
- The Enterprises' serious (90 days or more) delinquency rate increased to 0.59 percent at the end of the first quarter of 2026. This compared with 6.10 percent for Federal Housing Administration (FHA) loans, 2.61 percent for Veterans Affairs (VA) loans, and 2.03 percent for all loans (industry average).
The Enterprises' Foreclosures:
- Foreclosure starts decreased 2.8 percent to 25,413 while third-party and foreclosure sales increased 6.6 percent to 3,739 in the first quarter of 2026. For an interactive online map that provides state data, click on the following link:
Fannie Mae and Freddie Mac State Borrower Assistance Map
1Q26 Highlights -- Refinance Activities
- Total refinance volume increased during the first quarter of 2026, driven by the decline in mortgage rates. Mortgage rates eased during the quarter, with the average 30‑year fixed mortgage rate declining to 6.11 percent, down from 6.23 percent in the fourth quarter of 2025.
- The share of cash‑out refinance transactions declined to 35.2 percent of total refinance activity in the first quarter of 2026, down from a peak level of 82.4 percent recorded in September 2022.