This story appeared in Bank Digest
The Federal Housing Finance Agency has issued its Foreclosure Prevention Report for May 2017. According to the report, Fannie Mae and Freddie Mac (the Enterprises) completed 15,683 foreclosure prevention actions in May, bringing the total to 3,914,668 since the Enterprises were placed into conservatorship in September 2008. More than half of these actions have been permanent loan modifications.
In addition, there were 10,769 permanent loan modifications in May, bringing the total to 2,076,345 since the start of the conservatorships. Regarding the Enterprises' mortgage performance, the report said the serious delinquency rate fell further from 1.01 percent at the end of April to 0.98 percent at the end of May.