Excerpt: “The Enterprises completed 17,086 foreclosure prevention actions in October, bringing the total to 7,064,807 since the start of the conservatorships in September 2008. Approximately 39 percent of these actions have been permanent loan modifications. There were 5,938 permanent loan modifications in October, bringing the total to 2,737,341 since the conservatorships began in September 2008. Approximately 71 percent of loan modifications in October involved extend term only. Modifications with principal forbearance accounted for 28 percent of all loan modifications during the month. The number of borrowers who received payment deferrals after completing a forbearance plan increased from 5,971 in September to 7,289 in October. Initiated forbearance plans rose from 9,829 in September to 21,859 in October. The total number of loans in forbearance also increased from 39,669 at the end of September to 52,320 at the end of October, representing approximately 0.17 percent of the total loans serviced and 9.8 percent of the total delinquent loans.”
report
(22 pages)