Foreclosure Prevention Report - July 2016

July 2016 Highlights

The Enterprises' Foreclosure Prevention Actions:

• The Enterprises completed 15,547 foreclosure prevention actions in July 2016, bringing the total to 3,757,045 since the start of the conservatorships in September 2008. Over half of these actions have been permanent loan modifications.
• There were 10,587 permanent loan modifications in July, bringing the total to 1,973,186 since the conservatorships began in September 2008.
• The share of modifications with principal forbearance remained at 20 percent. Modifications with extend-term only accounted for 45 percent of all permanent modifications in July due to improved house prices and a declining HAMP eligible population.
• There were 2,105 short sales and deeds-in-lieu completed in July, down 9 percent compared with June.

The Enterprises' Mortgage Performance:

• The serious delinquency rate fell slightly from 1.23 percent at the end of June to 1.22 percent at the end of July.

The Enterprises' Foreclosures:

• Third-party and foreclosure sales declined 10 percent from 7,904 in June to 7,108 in July.
• Foreclosure starts decreased 6 percent from 18,709 in June to 17,517 in July.