FHFA: Fannie Mae, Freddie Mac Foreclosure Preventions Surpass 4 Million

The Federal Housing Finance Agency released its fourth quarter Foreclosure Prevention Report, showing Fannie Mae and Freddie Mac completed 67,569 foreclosure prevention actions in the fourth quarter, bringing the total number of homeowners helped to 4.040 million since the start of the conservatorships in September 2008.

FHFA reported the percentage of 60+ days delinquent loans rose from 1.32 percent to 1.65 percent at the end of the fourth quarter, primarily as result of the impact of Hurricanes Harvey, Irma and Maria in Texas, Florida and Puerto Rico.

Other report highlights:

–Forbearance plans rose significantly to 24,935 during the quarter, driven by the disaster-related forbearance offered to homeowners affected by hurricanes Harvey, Irma and Maria;

–GSE serious delinquency rate increased to 1.18 percent at the end of the fourth quarter;

–GSE REO inventory declined 9 percent in the fourth quarter.

The report can be accessed at https://www.fhfa.gov/AboutUs/Reports/ReportDocuments/4Q2017_FPR.pdf.