FHFA, GSEs Continue Keeping Homeowners From Foreclosure

first_img  Print This Post FHFA, GSEs Continue Keeping Homeowners From Foreclosure The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Foreclosure, Government, Headlines, News Share Save The Federal Housing Finance Agency (FHFA) released its Q2 2017 Foreclosure Prevention Report, outlining results of the continued efforts the agency and the GSEs are implementing to prevent homeowners from going into foreclosure.According to the report, Q2 2017 brought an additional 48,760 foreclosure prevention actions to keep struggling homeowners in their home, bringing the total foreclosure preventions to 3,931,224 since the GSEs first came under the FHFA’s conservatorship toward the end of 2008. The report notes that, to date, permanent loan modifications have accounted for 2 million of the 3.2 million homeowners that have been able to retain their homes.In addition, the GSEs combined serious delinquency rate stood at 0.9 percent. the lowest it’s been since January 2008, according to the report. In comparison, Federal Housing Administration serious delinquencies fell 3.8 percent, Veteran Affairs loans fell by 2.0 percent. Industry average decline was 2.5 percent.The number of 60+ day delinquencies has also declined, at a rate of 6 percent, falling to a total number of 354,178, from 377,622 at the end of the first quarter. Real estate owned was also down to 40,392, a 9 percent decrease.Foreclosure starts by the GSEs also fell in the second quarter by 11 percent to a total of 44,989, and third-party foreclosure fell to 17,542, a drop of 9.0 percent.Of all completed foreclosure prevention actions that led to home retention, which amounted to 88,171, repayment plans accounted for 18,076 of those actions, forbearance plans 3,750, and charge-offs-in-lieu 736. Standard loan modifications accounted for 65,709.Home forfeiture, nonforeclosure actions totaled 9,693, of which 6,626 of those were short sales, and 3,067 were deeds-in-lieu.You can find the full Foreclosure Prevention Report on the FHFA’s website. Subscribe Previous: Borrower Credit Risk Increases Year-over-Year Next: Next Post Sign up for DS News Daily September 28, 2017 1,481 Views About Author: Joey Pizzolato Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days agocenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Fannie Mae FHFA Freddie Mac GSE 2017-09-28 Joey Pizzolato The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Related Articles Demand Propels Home Prices Upward 2 days ago Joey Pizzolato is the Online Editor of DS News and MReport. He is a graduate of Spalding University, where he holds a holds an MFA in Writing as well as DePaul University, where he received a B.A. in English. His fiction and nonfiction have been published in a variety of print and online journals and magazines. To contact Pizzolato, email [email protected] Home / Daily Dose / FHFA, GSEs Continue Keeping Homeowners From Foreclosure Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Fannie Mae FHFA Freddie Mac GSElast_img read more

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