FHFA Releases April Foreclosure Data

Jul 12, 2017

Last year saw a 646 percent increase in foreclosures against seniors with federally-insured reverse mortgages as compared to the previous seven years, according to Department of Housing and Urban Development (HUD) data received by a Freedom of Information

Fannie Mae and Freddie Mac completed 16,521 foreclosure prevention actions in April, according to new data from their regulator, the Federal Housing Finance Agency (FHFA).

During April, the government-sponsored enterprises reported 11,328 permanent loan modifications. The share of modifications with principal forbearance accounted for 32 percent of all permanent modifications during April, while modifications with extend-term only increased to 38 percent during the month due to continuing improvement in house prices. April also saw 1,650 short sales and deeds-in-lieu completed, down 10 percent compared with March.

The FHFA also determined that the serious delinquency rate fell from 1.04 percent at the end of March to 1.01 percent at the end of April, while third-party and foreclosure sales decreased 16 percent from 6,581 in March to 5,523 in April. However, foreclosure starts increased 10 percent from 15,478 in March to 17,056 in April.

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Phil Hall

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Jul 12, 2017

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