WASHINGTON (6/29/15)--Fannie Mae and Freddie Mac report completing 65,960 foreclosure preventions in the first quarter of 2015.
According to the Federal Housing Finance Agency (FHFA), this brings total foreclosure prevention actions to nearly 3.5 million since Fannie and Freddie were placed into conservatorship by FHFA in September 2008.
The actions taken by Fannie and Freddie have helped roughly 2.9 million borrowers stay in their homes, including 1.8 million who received permanent loan modifications, a release noted.
Other highlights from the report include:
The FHFA’s first quarter "Foreclosure Prevention Report" also includes data on Fannie and Freddie home retention actions, delinquency data and real estate-owned inventory.
The FHFA has also published the data in an interactive Borrower Assistance Map.
Fannie and Freddie were placed into conservatorship in response to a substantial deterioration in the housing markets, which critically damaged the government-sponsored enterprises' financial condition and left them unable to fulfill their mission without government intervention.