Foreclosure Prevention Report First Quarter 2019

Published: 06/20/2019

First Quarter 2019 Highlights

The Enterprises completed 38,968 foreclosure prevention actions in the first quarter, bringing the total to 4,322,804 since the start of conservatorships in September 2008. Of these actions, 3,629,411 have helped troubled homeowners stay in their homes, including 2,336,047 permanent loan modifications.
Twenty-nine percent of modifications in the first quarter were modifications with principal forbearance. Modifications with extend-term only accounted for 65 percent of all loan modifications during the quarter.
There were 1,542 completed short sales and deeds-in-lieu during the quarter, bringing the total to 693,393 since the conservatorships began in September in 2008.

The percentage of 60+ days delinquent loans dropped from 1.08 percent at the end of 2018 to 1.03 percent at the end of the first quarter of 2019.
The Enterprises' serious (90 days or more) delinquency rate decreased to 0.71 percent at the end of the first quarter. This compared with 3.45 percent for Federal Housing Administration (FHA) loans, 1.87 percent for Veterans Affairs (VA) loans, and 1.96 percent for all loans (industry average).

Foreclosure starts decreased 7 percent to 33,475 while third-party and foreclosure sales also decreased 6 percent to 10,824 in the first quarter.

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