Foreclosure Prevention Report - February 2013

​This report analyzes trends in Fannie Mae and Freddie Mac mortgage delinquencies and the level of assistance offered to homeowners who are in danger of foreclosure. The content of the report include delinquency status of the single family book, foreclosure prevention / loss mitigation actions, performance of modified loans, and foreclosure starts and foreclosure sales.

February 2013 Highlights

The Enterprises’ Completed Foreclosure Prevention Actions:

• Approximately 43,000 foreclosure prevention actions were completed in February, bringing the total to over 2.7 million since the start of conservatorship in September 2008. Half of these actions have been permanent loan modifications.
• There were nearly 20,900 permanent modifications in February compared with 22,300 in January.
• More than a third of loan modifications completed during the month included principal forbearance.
• Approximately 9,500 short sales and deeds-in-lieu were completed during month, down from nearly 11,000 in January.

The Enterprises’ Mortgage Performance:

• Early stage (30-59 days) delinquencies increased however; seriously delinquent loans continued to decline during the month.

The Enterprises’ Foreclosures:

• Foreclosures declined in February - completed third-party sales and foreclosure sales decreased 10 percent and foreclosure starts fell 18 percent during the month.​