Skip to main content

GSEs Complete Nearly 3.2 Million Foreclosure Prevention Actions Through Q1
Jun 27, 2014

Fannie Mae and Freddie Mac have completed nearly 3.2 million foreclosure prevention actions since the start of the conservatorships in 2008, with approximately 88,800 actions occurring in the first quarter. These measures have helped more than 2.6 million borrowers stay in their homes, including 1.6 million who received permanent loan modifications. These actions are detailed in the Federal Housing Finance Agency's quarterly Foreclosure Prevention Report, which details activities by state in an online, interactive Borrower Assistance Map for Fannie Mae and Freddie Mac mortgages. Also noted in the report: ►Forty-two percent of all permanent loan modifications helped to reduce homeowners' monthly payments by more than 30 percent in the first quarter. ►Approximately 27 percent of borrowers who received permanent loan modifications in the first quarter had portions of their mortgage balance forborne. ►Approximately 14,900 short sales and deeds-in-lieu were completed in the first quarter, bringing the total to more than 566,800 since the start of the conservatorships. ►Third-party sales and foreclosure sales fell slightly to 47,300 while foreclosure starts decreased 25 percent in the first quarter. ►While the total number of troubled borrowers continued to decline, 31 percent of these borrowers remained deeply delinquent at the end of the first quarter. Florida, New York and New Jersey have the highest number of deeply delinquent loans (365+ days).
Jun 27, 2014
5 Federal Agencies Propose Guidance For ROVs

Addresses reconsiderations of value (ROV) for residential real estate transactions. 

Freddie Mac Adds Affordable Housing Program For Native Americans

HeritageOne will increase access to affordable mortgages for tribal members living in tribal areas.

6 Federal Agencies Seek Comment On Proposed Rule For AVMs

The rule is intended to ensure the credibility and integrity of Automated Valuation Models.

FHA Proposes New Program To Help Struggling Homeowners

Legal expert questions whether agency has authority to implement the program.

Fitch Places Fannie, Freddie On Negative Ratings Watch

Ties credit rating to outcome of U.S. debt limit negotiations.

FHFA Director Strongly Defends New GSE Pricing Framework 

Tells House committee it’s “simply not true” that financially stronger borrowers are subsidizing others.