Foreclosure Prevention Report Third Quarter 2018

Third Quarter 2018 Highlights

The Enterprises' Foreclosure Prevention Actions:

• The Enterprises completed 63,193 foreclosure prevention actions in the third quarter, bringing the total to 4,242,774 since the start of conservatorships in September 2008. Of these actions, 3,552,704 have helped troubled homeowners stay in their homes, including 2,288,152 permanent loan modifications.
• Twenty-four percent of modifications in the third quarter were modifications with principal forbearance. Modifications with extend-term only accounted for 68 percent of all loan modifications during the quarter.
• There were 2,159 completed short sales and deeds-in-lieu during the quarter, bringing the total to 690,070 since the conservatorships began in September in 2008.

The Enterprises' Mortgage Performance:

• The percentage of 60+ days delinquent loans dropped from 1.2 percent at the end of the second quarter to 1.1 percent at the end of the third quarter.
• The Enterprises' serious (90 days or more) delinquency rate decreased to 0.79 percent at the end of the third quarter. This compared with 3.7 percent for Federal Housing Administration (FHA) loans, 2.0 percent for Veterans Affairs (VA) loans, and 2.1 percent for all loans (industry average).

The Enterprises' Foreclosures:

• Foreclosure starts declined 17 percent to 32,557, and third- party and foreclosure sales decreased 7 percent to 12,464 in the third quarter.

Related News Release

For an interactive online map that provides state data, click on the following link: Fannie Mae and Freddie Mac State Borrower Assistance Map