FHFA: Third Quarter 2017 Foreclosure Prevention Report Shows Foreclosure Preventions Top 3.9 Million

Hurricanes Impact Delinquency Rate

The Federal Housing Finance Agency (FHFA) today released its third quarter Foreclosure Prevention Report, which shows that Fannie Mae and Freddie Mac (the Enterprises) completed 41,465 foreclosure prevention actions in the third quarter of 2017, bringing the total number of troubled homeowners helped to 3,972,689 since the start of the conservatorships in September 2008.  The number of early stage (30-59 days) delinquent loans rose 25 percent in the third quarter driven primarily by the impact of Hurricanes Harvey, Irma and Maria in Texas, Florida and Puerto Rico.  A variety of mortgage relief options are available for those affected by natural disasters, including these hurricanes.

FHFA’s report includes data on the Enterprises’ home retention actions, delinquency data and real estate owned (REO) inventory.  FHFA publishes the report data in an online, interactive Borrower Assistance Map on FHFA.gov.

Other foreclosure prevention data noted in the quarterly report include:

  • Of the foreclosure prevention actions, nearly 3.3 million have helped troubled homeowners stay in their homes, including more than 2.1 million permanent loan modifications.
  • The Enterprises’ serious delinquency rate remained flat at 0.95 percent at the end of the third quarter.
  • The Enterprises’ REO inventory declined 8 percent in the third quarter.

Link to Report

Leave A Comment?

You must be logged in to post a comment.