Delinquent GSE Mortgages Fall

The number of homes backed by Fannie Mae and Freddie Mac that are 60 or more days past due fell from 1.03% to 1% at the end of the second quarter of 2019, according to the Federal Housing Finance Agency’s foreclosure prevention report released today.

Seriously delinquent loans—those that are 90 days or more past due—fell to 0.67% of Fannie and Freddie’s mortgage loan portfolio in the second quarter. By comparison, 3.43% of Federal Housing Administration loans were seriously delinquent and 1.95% of all loans were.

The report also documented the GSEs’ efforts to prevent foreclosures, with 31,757 modifications or other actions completed in the second quarter and more than 4.4 million since the conservatorships began.