GSEs Report 65k+ Foreclosure-Prevention Actions in May
Information released by the Federal Housing Finance Agency (FHFA) covering May show a sum of 65,243 foreclosure prevention actions during the 31-day period, which brings the number of such actions taken by government-sponsored enterprises Fannie Mae and Freddie Mac since the FHFA’s 2008 formation to almost 6 million (5,965,347).
The FHFA Foreclosure Prevention and Refinance report issued Thursday goes on to analyze the GSEs’ mortgage loan performance over the course of the month, including an examination of delinquency, COVID-related forbearance, and refinance data.
The GSEs carried out 4,689 permanent loan modifications in May, making a total of 2,462,360 home-retention focused mortgage modifications since ’08. Some 13% of those May modifications involved principal forbearance, and 63% featured extended-term alone.
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