March 24, 2022

FHFA: Fourth Quarter 2021 Foreclosure Prevention and Refinance Report Released

More than 6.3 million homeowners helped since conservatorship

The Federal Housing Finance Agency (FHFA) today released its fourth quarter 2021 Foreclosure Prevention and Refinance Report​. The report shows that Fannie Mae and Freddie Mac (the Enterprises) completed 153,793 foreclosure prevention actions during the quarter, raising the total number of homeowners who have been helped to 6,364,278 since the start of conservatorships in September 2008.

The report also shows that 46 percent of loan modifications completed in the fourth quarter reduced borrowers’ monthly payments by more than 20 percent. The number of refinances decreased slightly from 1.286 million in the third quarter to 1.266 million in the fourth quarter.

The Enterprises’ serious delinquency rate dropped from 1.55 percent to 1.19 percent at the end of the fourth quarter. This compares with 6.48 percent for Federal Housing Administration (FHA) loans, 3.82 percent for Veterans Affairs (VA) loans, and 2.83 percent for all loans (industry average).

Other highlights from the report include:

FHFA’s quarterly foreclosure prevention and refinance reports include data on the Enterprises’ mortgage performance, delinquencies, and active forbearance plans, as well as forfeiture actions and refinances by state. The data included in these reports are also available on FHFA’s website as an interactive Borrower Assistance Map.

Download the Foreclosure Prevention, Refi & FPM Report – 4Q2021

This post was originally published here.