Loan modifications and refinancings by Fannie Mae and Freddie Mac increased significantly during the first quarter as the volume of permanent modifications under the Federal Housing Finance Agency’s (FHFA) Home Affordable Modification Program (HAMP) tripled, and refinancings steadily grew under the Home Affordable Refinance Program (HARP).
Loans 60-plus-days delinquent also declined for the first time in two years. The data were released in FHFA’s First Quarter 2010 Foreclosure Prevention & Refinance report, which includes data on all of the Enterprises’ foreclosure prevention efforts.
Highlights of the quarterly report include:
View the full report [pdf]