The Federal Housing Finance Agency (FHFA) reported in its third quarter 2012 Foreclosure Prevention Report that the number of loans backed by Fannie Mae and Freddie Mac in serious delinquency (loans delinquent for 90 or more days) has dropped below 1 million for the first time since the summer of 2009. Loans delinquent by 60-plus days also declined; however, there was an increase in loans delinquent for 30 to 59 days.
The report also details other quarterly loan trends at Fannie and Freddie, which include an overall increase in foreclosure prevention and refinance activities. Included in these activities were increases in loan modifications and short sales. Repayment plans, forbearance plans, charge-offs-in-lieu and deeds in-lieu decreased in the third quarter.
The report specifically highlighted the following:
The full report which provides detailed state-by-state information along with specific information on various federal programs to help homeowners can be found here.