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.
May 2013 Highlights
The Enterprises’ Foreclosure Prevention Actions:
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Nearly 39,300 foreclosure prevention actions were completed in May, bringing the total to nearly 2.9 million since the start of conservatorship in September 2008. Half of these actions have been permanent loan modifications.
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The volume of permanent loan modifications remained flat at approximately 19,800 in May compared with April.
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One-third of permanent loan modifications in May included principal forbearance.
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Nearly 9,100 short sales were completed during the month, up 14 percent compared with April.
The Enterprises’ Mortgage Performance:
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Early stage (30-89 days) and seriously delinquent loans continued to decline during the month.
The Enterprises’ Foreclosures:
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Foreclosure sales and starts decreased during the month compared with April.