FHFA Reports Fannie/Freddie Loan Modification Improvement
FHFA Reports Fannie/Freddie Loan Modification Improvement
FHFA Reports Fannie/Freddie Loan Modification Improvement
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December 27, 2010 (Shirley Allen)
mortgage-modification-image
The Federal Housing Finance Agency (FHFA) released its Third Quarter 2010 Foreclosure Prevention & Refinance Report on the status of loan modifications at both Freddie Mac and Fannie Mae. Loan modifications through the Home Affordable Modification Program (HAMP) reportedly increased 16 percent in the quarter, although the overall volume of loan modifications and the pace of HAMP modifications declined from previous periods.

Highlights of the report included:

– Loans modified in the last three quarters are performing substantially better three months after modification, compared to loans modified in earlier periods.

– More than half of the loan modifications completed in the third quarter lowered borrowers’ monthly payments by over 30 percent.

– Loans that are 30-days delinquent increased by 17,600 loans or 2.7 percent during the third quarter to approximately 682,000.

– Loans 60-plus-days delinquent declined for the third consecutive quarter. The 60-plus-days delinquent loans decreased by 109,700 loans, or 6.8 percent during the third quarter to approximately 1.5 million.

– Nearly 35,400 HAMP trial modifications transitioned to permanent during the third quarter bringing the total number of active HAMP permanent modifications to nearly 260,000.

– Short sales and deeds-in-lieu remained steady during the quarter.

– Since the first full quarter in conservatorship (4Q08), combined completed
foreclosure prevention actions total 1,240,982.

The Federal Housing Finance Agency (FHFA) regulates Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks. These government-sponsored enterprises provide more than $5.9 trillion in funding for the U.S. mortgage markets and financial institutions.

Tags: fhfa, freddie mac, fannie mae, loan modifications, mortgage loans, modified loans, hamp

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Helpful Tools
Mortgage
Calculator

Estimate your monthly mortgage payment
Auto Loan
Calculator

Determine how much car you can afford before buying
Learn About
Mortgage Loans

Learn about the different types of home loans
15 Year vs 30 Year
Loan Comparison

Compare 15 year and 30 year mortgage loans
Todays Mortgage
Rates

See today's mortgage rates. Shop, compare and save.

December 27, 2010 (Shirley Allen)
mortgage-modification-image
The Federal Housing Finance Agency (FHFA) released its Third Quarter 2010 Foreclosure Prevention & Refinance Report on the status of loan modifications at both Freddie Mac and Fannie Mae. Loan modifications through the Home Affordable Modification Program (HAMP) reportedly increased 16 percent in the quarter, although the overall volume of loan modifications and the pace of HAMP modifications declined from previous periods.

Highlights of the report included:

– Loans modified in the last three quarters are performing substantially better three months after modification, compared to loans modified in earlier periods.

– More than half of the loan modifications completed in the third quarter lowered borrowers’ monthly payments by over 30 percent.

– Loans that are 30-days delinquent increased by 17,600 loans or 2.7 percent during the third quarter to approximately 682,000.

– Loans 60-plus-days delinquent declined for the third consecutive quarter. The 60-plus-days delinquent loans decreased by 109,700 loans, or 6.8 percent during the third quarter to approximately 1.5 million.

– Nearly 35,400 HAMP trial modifications transitioned to permanent during the third quarter bringing the total number of active HAMP permanent modifications to nearly 260,000.

– Short sales and deeds-in-lieu remained steady during the quarter.

– Since the first full quarter in conservatorship (4Q08), combined completed
foreclosure prevention actions total 1,240,982.

The Federal Housing Finance Agency (FHFA) regulates Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks. These government-sponsored enterprises provide more than $5.9 trillion in funding for the U.S. mortgage markets and financial institutions.

Tags: fhfa, freddie mac, fannie mae, loan modifications, mortgage loans, modified loans, hamp

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
HOW LOANRATENETWORK
LOAN CENTER WORKS
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Helpful Tools

December 27, 2010 (Shirley Allen)
mortgage-modification-image
The Federal Housing Finance Agency (FHFA) released its Third Quarter 2010 Foreclosure Prevention & Refinance Report on the status of loan modifications at both Freddie Mac and Fannie Mae. Loan modifications through the Home Affordable Modification Program (HAMP) reportedly increased 16 percent in the quarter, although the overall volume of loan modifications and the pace of HAMP modifications declined from previous periods.

Highlights of the report included:

– Loans modified in the last three quarters are performing substantially better three months after modification, compared to loans modified in earlier periods.

– More than half of the loan modifications completed in the third quarter lowered borrowers’ monthly payments by over 30 percent.

– Loans that are 30-days delinquent increased by 17,600 loans or 2.7 percent during the third quarter to approximately 682,000.

– Loans 60-plus-days delinquent declined for the third consecutive quarter. The 60-plus-days delinquent loans decreased by 109,700 loans, or 6.8 percent during the third quarter to approximately 1.5 million.

– Nearly 35,400 HAMP trial modifications transitioned to permanent during the third quarter bringing the total number of active HAMP permanent modifications to nearly 260,000.

– Short sales and deeds-in-lieu remained steady during the quarter.

– Since the first full quarter in conservatorship (4Q08), combined completed
foreclosure prevention actions total 1,240,982.

The Federal Housing Finance Agency (FHFA) regulates Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks. These government-sponsored enterprises provide more than $5.9 trillion in funding for the U.S. mortgage markets and financial institutions.

Tags: fhfa, freddie mac, fannie mae, loan modifications, mortgage loans, modified loans, hamp

HOW LOANRATENETWORK
LOAN CENTER WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.