General World News

FHFA prevention actions surpassed 52K in Q4 2022

The Federal Housing Finance Agency (FHFA) released on Thursday its Fourth Quarter 2022 Foreclosure Prevention and Refinance Report, stating that government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac completed 52,469 foreclosure prevention actions in Q4 2022.

That figure increases the total number of GSE-assisted homeowners to 6,712,833 since the start of the conservatorship in September 2008, which placed control of Fannie and Freddie with the FHFA.

According to the report, about 37% of the loan modifications completed in Q4 reduced borrowers’ monthly payments by at or over 20%. Rising rates led to a reduction in mortgage refinances during details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com