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.
August 2013 Highlights
The Enterprises’ Foreclosure Prevention Actions:
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Approximately 36,300 foreclosure prevention actions were completed in August, bringing the total to 2.97 million since the start of conservatorship in September 2008. Half of these actions have been permanent loan modifications.
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Permanent loan modifications rose 17 percent in August while delinquent loans continued to decline.
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Approximately 30 percent of all permanent loan modifications in August included principal forbearance.
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There were nearly 7,700 completed short sales in August, down 9 percent compared with July.
The Enterprises’ Mortgage Performance:
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Early stage (30-89 days) and serious delinquent loans continued to decline in August.
The Enterprises’ Foreclosures:
- Foreclosure sales and foreclosure starts continued to decrease in August.