The FHFA recently released a report showcasing the foreclosure prevention efforts of Fannie Mae and Freddie Mac, as well as providing insights into mortgage performance and refinance activities. Key points from the report include:
– Fannie Mae and Freddie Mac’s continued focus on foreclosure prevention strategies to assist struggling homeowners, including loan modifications, repayment plans, and forbearance options.
– The report highlights the effectiveness of these foreclosure prevention efforts, with a significant decrease in foreclosure rates and an increase in successful outcomes for homeowners.
– Mortgage performance metrics were also detailed in the report, showing overall positive trends in loan performance and delinquency rates.
– Additionally, the report covers refinance activities, showcasing the volume of refinancing applications and the impact of low interest rates on borrower opportunities for cost savings.
Overall, the FHFA report underscores the importance of proactive foreclosure prevention actions taken by Fannie Mae and Freddie Mac, as well as providing valuable insights into the current state of the mortgage industry in terms of performance and refinance activities.
You can read this full article at: https://www.housingwire.com/articles/fhfa-assisted-nearly-44000-troubled-homeowners-in-q42023/(subscription required)
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