FHFA announces 2016 conforming loan limits

FHFA announces 2016 conforming loan limits

Much of U.S. left unchanged; limits increase in 39 ‘high-cost’ counties

Game changer? Quicken Loans takes mortgage lending fully digital

Launches Rocket Mortgage

Google launches mortgage comparison tool with Zillow

LendingTree will also bring mortgages to Google
Servicing / The Ticker

FHFA assists 3.2 million troubled homeowners

foreclosed home
/ Print / Reprints /
| Share More
/ Text Size+

The number of foreclosure prevention actions completed during the first quarter was slightly down from the fourth quarter of 2013, falling to 88,800 from 99,704, according to the Federal Housing Finance Agency.   

But this is still good news for the economy, bringing the total number of completed foreclosure actions to nearly 3.2 million since the start of conservatorship in September 2008.

In the first quarter, 42% of all permanent loan modifications in the first quarter helped to reduce homeowners’ monthly payments by over 30%.

More than 2.6 million of these actions have helped troubled homeowners stay in their homes, including 1.6 million permanent loan modifications.

In addition, as of March 31, about 13% of loans modified in the first quarter of 2013 had missed two or more payments, one year after modification.

The number of Fannie Mae and Freddie Mac serious delinquent borrowers dropped 8% during the first quarter. 

Recent Articles by Brena Swanson

Comments powered by Disqus