FHFA: GSEs’ Permanent HAMP Mods Tripled In Q1

lume of permanent modifications under the Home Affordable Modification Program (HAMP) tripled to 136,000 in the first quarter, while refinancings steadily grew under the Home Affordable Refinance Program (HARP), according to Fannie Mae and Freddie Mac's conservator. In its first-quarter foreclosure prevention report, the Federal Housing Finance Agency also reports that, for the first time in two years, government-sponsored enterprise (GSE) loans 60+ days delinquent declined, falling by nearly 23,800 loans to approximately 1.7 million. ‘Completed foreclosure prevention activity’ increased 75% to approximately 239,000 transactions, driven by increases in all home retention activity, short sales and deeds-in-lieu, the FHFA says. HARP cumulative refinance volume increased 53% to nearly 291,600 at the end of the first quarter – up from 190,180 in the fourth quarter. SOURCE: [link=http://www.fhfa.gov/webfiles/15861/1q20109ForeclosurePrevention62210.pdf]Federal Housing Finance Agency

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