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DS News Webcast: Tuesday 9/29/2015

Increased loss mitigation efforts on the part of Fannie Mae and Freddie Mac resulted in more than 63 thousand foreclosure prevention actions in the second quarter of 2015, bringing the total of such actions to more than 3 point 5 million since the conservatorships began in September 2008, according to the FHFA's Foreclosure Prevention Report for Q2 2015. Of those 3 point 5 million foreclosure prevention actions since 2008, more than 2 point 9 million have been home retention actions.

REO inventory for Fannie Mae and Freddie Mae dropped by 14 percent during Q2, down to approximately 86 thousand for the two GSEs combined, as property dispositions continued to outpace property acquisitions. It was the first time the REO inventory for the GSEs has been below 100 thousand since 2009. The serious delinquency rate on loans backed by Fannie Mae and Freddie Mac declined to 1 point 6 percent by the end of the quarter, far lower than the rate for loans backed by other government agencies and less than half of the industry average of 4 point 0 for the quarter.

Approximately 59 percent of households formed in the 20-year period between 2010 and 2030 will be renters; the increasing demand will stress low vacancy rates and increase rents even further. In a report titled Single-Family Rentals: A New Approach to Affordable Housing by released Monday by the Urban Institute, the authors say SFR should be considered by policymakers as an integral part an affordable housing strategy because of volume, location, neighborhood impact, and affordability.

About Author: Jordan Funderburk

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