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FHFA Reports on GSEs’ Foreclosure Prevention Activities

The ""Federal Housing Finance Agency"":http://www.fhfa.gov/ released a report Wednesday, summarizing Home Affordable Modification[IMAGE] [COLUMN_BREAK]

Program (HAMP) and Home Affordable Refinance Program (HARP) data for ""Fannie Mae"":http://www.fanniemae.com/ and ""Freddie Mac."":http://www.freddiemac.com/

According to the report, the government-sponsored enterprises (GSEs) initiated approximately 540,383 HAMP trial modifications as of January 31, 2010, up from 486,000 in December and 405,000 in November. Of the active trials initiated by the end of January, 73,376 had been converted to permanent modifications.

Fannie and Freddie's HARP activity also increased. While total refinance volume fell in January in response to a two-month rise in rates, HARP refinancings increased to nearly 12.7 percent of the GSEs total monthly refinance volume, up from 11.6 percent in December and 9.8 percent in November.

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