A new report from the Federal Housing Finance Agency (FHFA) reveals that 6.7 million homeowners have now received assistance from Fannie Mae and Freddie Mac since the government-sponsored enterprises (GSEs) entered conservatorship in September 2008.
According to the report, as of March 31, 2019, nearly 3.4 million modified loans and nearly 3.3 million refinance loans have been completed through the Home Affordable Modification Program (HAMP) and the Home Affordable Refinance Program (HARP), respectively.
The report also notes that GSEs have provided approximately $195 billion in HAMP principal reductions to nearly 1 million borrowers.
FHFA Acting Director Joseph Otting said the report shows “the Enterprises’ commitment to help struggling borrowers” and that the agency “will continue to work with the Enterprises on initiatives that provide stability to the housing market and assist borrowers.”
You can read this full article at: https://www.housingwire.com/articles/gses-completed-nearly-60000-foreclosure-prevention-actions-in-q1-2023-fhfa/(subscription required)
Note Servicing Center provides professional, fully compliant loan servicing for private mortgage investors so they can avoid the aggravation of servicing their own loans and just relax and get paid. Contact us today for more information.