This story appeared in Bank Digest.
The Federal Housing Finance Agency has issued its Foreclosure Prevention Report for the third quarter of 2016. According to the report, the serious delinquency rate for mortgages owned or guaranteed by Fannie Mae and Freddie Mac (the Enterprises) has reached the lowest level since June of 2008, falling to 1.16 percent at the end of the third quarter.
Overall, the Enterprises completed 46,390 foreclosure prevention actions in the third quarter, bringing the total number of foreclosure prevention actions to more than 3.7 million since the Enterprises were placed into conservatorship in September 2008. The report includes data on Fannie Mae and Freddie Mac home retention actions, delinquency data, and real estate owned inventory.