This story appeared in Bank Digest.
The Federal Housing Finance Agency has issued its Foreclosure Prevention Report for the fourth quarter of 2015. According to the report, Fannie Mae and Freddie Mac (the Enterprises) completed 47,769 foreclosure prevention actions in the fourth quarter of 2015, bringing the total to 3,643,449 since the Enterprises were placed into conservatorship in September 2008. The report went on to state that 3,003,167 of these actions have helped troubled homeowners stay in their homes and include 1,898,826 permanent loan modifications.
In addition, approximately 30 percent of all permanent loan modifications in the fourth quarter of 2015 helped to reduce homeowners' monthly payments by over 30 percent, according to the report.