WASHINGTON (11/9/15)--Fannie Mae and Freddie Mac completed 17,806 foreclosure prevention actions in August, more than half of which were permanent loan modifications.

The Federal Housing Finance Agency (FHFA) published its Foreclosure Prevention Report last week for the month of August.

August’s preventions bring Fannie and Freddie total foreclosure prevention actions to more than 3.5 million since September 2008, which includes a total of more than 1.8 million permanent loan modifications.

Other highlights from the report include:

• The share of modifications with principal forbearance increased slightly to 19%. Modifications with extend-term only accounted for 47% of modifications in August due to improved house prices and a declining Home Affordable Mortgage Program-eligible population;
   
• There were 2,892 short sales and deeds-in-lieu completed in August, down 7% compared with July;
   
• The serious delinquency rate decreased slightly to 1.56% at the end of August from 1.57% at the end of July;
   
• Third-party and foreclosure sales decreased 8% in August to 8,530 from 9,316 in July; and
   
• Foreclosure starts increased to 25,121 in August, a 29% increase from 19,481 in July.