The Federal Housing Finance Agency today released its fourth quarter 2023 Foreclosure Prevention and Refinance Report, which includes data on mortgage performance, delinquencies and active forbearance plans, as well as forfeiture actions and refinances by state.
According to the report, Fannie Mae and Freddie Mac completed 43,903 foreclosure prevention actions during the quarter, raising the total number of homeowners who have been helped to more than 6.9 million since the start of conservatorships in September 2008. There were 43,356 foreclosure prevention actions during Q3.
Thirty-one percent of loan modifications completed in Q4 reduced borrowers’ monthly payments by more than 20%. The number of refinances decreased from 83,522 in Q3 to 71,378 in Q4. The serious delinquency rate increased from 0.54% to 0.55%. This compared with 3.42% for Federal Housing Administration loans, 2.01% for Veterans Affairs loans, and 1.52% for all loans.
