FHFA: Fannie Mae, Freddie Mac Seriously Delinquent Rate Lowest Since 2008

The Federal Housing Finance Agency said Fannie Mae and Freddie Mac completed 48,438 foreclosure prevention actions in the second quarter, bringing total foreclosure prevention actions to more than 3.7 million since the start of the conservatorships in September 2008.

The Second Quarter Mortgage Delinquency Report also noted the serious delinquency rates of Fannie Mae and Freddie Mac loans declined to their lowest levels since 2008.

The serious delinquency rate of Fannie Mae and Freddie Mac loans fell to 1.2 percent at the end of the second quarter, the lowest level since the start of conservatorships in 2008. The number of Fannie Mae and Freddie Mac loans 60+ days delinquent declined another 6 percent during the quarter.

The report also said Fannie Mae and Freddie Mac’s REO inventory declined 13 percent in the second quarter to 57,937 as property dispositions continued to outpace property acquisitions.

The report can be accessed at http://www.fhfa.gov/AboutUs/Reports/ReportDocuments/FPR_2Q2016FINAL.pdf.