FHFA Reports on Enterprise Foreclosure Prevention Activity

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Posted To: MND NewsWire

The Federal Housing Financing agency reported there have now been over a quarter million permanent mortgage loan modifications for Freddie Mac and Fannie Mae mortgages arranged under the Home Affordable Modification Program. While it was substantially below the 88,600 permanent modifications achieved during Quarter II, 35,400 trial modifications were converted to permanent status in the third quarter, bringing the total to 260,000 over the 18 months since the program began. FHFA's Third Quarter 2010 Foreclosure Prevention and Refinance Report issued on Monday includes information on all of the foreclosure prevention efforts undertaken by the two government sponsored enterprises (Enterprises) Freddie Mac and Fannie Mae, including HAMP, the Home Affordable Refinance Program (HARP,) and other...(read more)

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Source: www.mortgagenewsdaily.com

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