FHFA: GSE Foreclosure Preventions at 3.9 Million

The Federal Housing Finance Agency said Fannie Mae and Freddie Mac completed 49,104 foreclosure prevention actions in the first quarter, bringing the total number of troubled homeowners helped since conservatorships to nearly 3.9 million.

The agency’s First Quarter Foreclosure Prevention Report (https://www.fhfa.gov/AboutUs/Reports/ReportDocuments/FPR_1Q2017.pdf) said the government-sponsored enterprises’ serious delinquency rate fell to 1.0 percent at the end of the first quarter, the lowest level since April 2008. Sixty-plus days delinquent loans declined 10 percent to 377,622 at the end of the first quarter, also the lowest level since 2008. The GSE’s REO inventory declined by 8 percent in the first quarter to 44,460.

FHFA said of foreclosure prevention actions, more than 3.2 million have helped troubled homeowners stay in their homes, including more than two million permanent loan modifications.