FHFA: Nearly 4.4 Million Homeowners Helped Since Conservatorship

The Federal Housing Finance Agency released its quarterly Foreclosure Prevention and Refinance Report, showing Fannie Mae and Freddie Mac completed 26,475 foreclosure prevention actions in the third quarter, bringing the total number of foreclosure prevention actions to 4.38 million since September 2008.

The report also shows 37 percent of loan modifications completed in the third quarter reduced borrowers’ monthly payments by more than 20 percent. The GSEs’ serious delinquency rate dropped to 0.65 percent at the end of the third quarter, compared to 3.39 percent for FHA loans, 1.87 percent for VA loans and 1.81 percent for all loans (industry average). 

The report also showed the GSEs completed 539,485 refinances in the third quarter.

The report can be found at https://www.fhfa.gov/AboutUs/Reports/ReportDocuments/3Q2019-FPR-Refi-FPM.pdf.