GSEs Completed 48K Foreclosure Preventions in Q2

GSEs Completed 48K Foreclosure Preventions in Q2

September 27, 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 48,760 foreclosure prevention actions in the second quarter, according to data released by the Federal Housing Finance Agency (FHFA).
During the second quarter, the serious delinquency rate for the government-sponsored enterprises (GSEs) fell to 0.9 percent, the lowest level since January 2008. The number of GSE loans that were delinquent for 60 days or more dropped by six percent to 354,178. The GSEs’ REO inventory was also down, dropping by nine percent in the second quarter to 40,392.
Since going into federal conservatorship nine years ago, the GSEs provided foreclosure prevention assistance for 3.9 million homeowners.