Tallying Foreclosure Prevention Actions

first_imgHome / Daily Dose / Tallying Foreclosure Prevention Actions Subscribe Tagged with: Delinquencies Delinquent Loans Fannie Mae FHFA Foreclosure Freddie Mac Loan Modification The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily in Daily Dose, Featured, Foreclosure, News Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save Radhika Ojha is an independent writer and copy-editor, and a reporter for DS News. She is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her masters degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha, also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas. January 23, 2019 1,196 Views Servicers Navigate the Post-Pandemic World 2 days ago Delinquencies Delinquent Loans Fannie Mae FHFA Foreclosure Freddie Mac Loan Modification 2019-01-23 Radhika Ojha About Author: Radhika Ojha Demand Propels Home Prices Upward 2 days agocenter_img The Best Markets For Residential Property Investors 2 days ago  Print This Post Serious delinquency rates of loans at Fannie Mae and Freddie Mac saw a slight drop from 0.79 percent in September to 0.76 percent at the end of October according to the Federal Housing Finance Agency (FHFA’s) latest Foreclosure Prevention Report for October 2018. However third party and foreclosure sales and foreclosure starts increased during the month compared to September 2018, the report revealed.While third-party and foreclosure sales increased from 3,705 in September to 4,416 in October 2018, foreclosure starts increased from 9,419 to 12,752 during the same period. The report found 633 short sales and deeds-in-lieu of foreclosure completed in October, showing a slight increase from September 2018.The report, which analyzes the foreclosure prevention actions taken by Fannie Mae and Freddie Mac (the enterprises) indicated that in October the enterprises completed a total of 15,272 foreclosure prevention actions, which was slightly more than the 15,042 actions completed by Fannie and Freddie in the previous month.Looking at historical data, the report said that together, the enterprises had completed more than 4.2 million foreclosure preventions since the start of their conservatorships in September 2008. Over half of these actions have been permanent loan modifications.Breaking down the foreclosure prevention figures, the FHFA said that Fannie Mae and Freddie Mac completed 10,484 loan mods in October, slightly lower than the 11,163 loan modifications completed in the previous month. Adding October’s figures, the enterprises have completed a total of more than 2.2 million loan modifications since their conservatorship began.FHFA also indicated that 28 percent of modifications in October were modifications with principal forbearance. On the other hand, modifications with extend-term only accounted for 64 percent of all loan modifications during the month.During the period, the report found that a majority of delinquent loans, 343,270, were in the 30-59 days delinquent category. Loans that were 60-plus days delinquent stood at 305,101 a slight drop from 313,626 loans in September.Click here to read the full report. The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago Related Articles Tallying Foreclosure Prevention Actions Servicers Navigate the Post-Pandemic World 2 days ago Previous: Why U.S. Bank is the “World’s Most Admired Company” Next: Affordable Homes: What’s That? Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days agolast_img

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