Delinquencies Fall at the GSEs

October 7, 2013
Housing Wire 
mortgage lending news

Preventative measures taken by Fannie Mae and Freddie Mac saved 117,000 homes from foreclosure in the second quarter of the year, the Federal Housing Finance Agency (FHFA) reports. The quarterly tally brings the total to 247,000 for the first six months of 2013 and to 2.9 million since 2008.

The second-quarter data also indicates that loan delinquencies declined nationwide, with 7 percent fewer borrowers falling into the seriously delinquent category. Foreclosure starts were down 11 percent for the three months, FHFA adds, and third-party sales and foreclosure sales fell 10 percent.

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