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.
July 2013 Highlights
The Enterprises’ Foreclosure Prevention Actions:
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Approximately 33,600 foreclosure prevention actions were completed in July, bringing the total to more than 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 number of permanent loan modifications decreased during the month as delinquent loans continued to decline.
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More than a third of all permanent loan modifications in July included principal forbearance.
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There were more than 8,400 completed short sales in July, up 11 percent compared with June.
The Enterprises’ Mortgage Performance:
- Early stage (30-89 days) and serious delinquent loans declined during the month.
The Enterprises’ Foreclosures:
- Foreclosure sales and starts increased during the month compared with June.