December 20, 2022

FHFA: Third Quarter 2022 Foreclosure Prevention and Refinance Report Released

More than 6.6 million troubled homeowners helped since conservatorships

The Federal Housing Finance Agency (FHFA) today released its third quarter 2022 Foreclosure Prevention and Refinance Report​. The report shows that Fannie Mae and Freddie Mac (the Enterprises) completed 69,362 foreclosure prevention actions during the quarter, raising the total number of homeowners who have been helped to 6,660,364 since the start of conservatorships in September 2008.

The report also shows that 53 percent of loan modifications completed in the second quarter reduced borrowers’ monthly payments by more than 20 percent. The number of refinances decreased significantly amid rising mortgage rates from 444,850 in the second quarter to 194,189 in the third quarter.

The Enterprises’ serious delinquency rate declined from 0.79 percent to 0.68 percent at the end of the third quarter. This compares with 4.26 percent for Federal Housing Administration (FHA) loans, 2.51 percent for Veterans Affairs (VA) loans, and 1.90 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​.​


Foreclosure Prevention, Refi, & FPM Report – 3Q2022

This post was originally published here.