Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
FHFA reports rise in home loan mods refinancings
WASHINGTON (9/13/10)--The number of home loan modifications and refinancings executed by Fannie Mae and Freddie Mac increased during the second quarter of 2010, the Federal Housing Finance Agency (FHFA) said in a Friday release. The FHFA said that the number of permanent modifications under the Obama Administration’s Home Affordable Modification Program (HAMP) also increased by 65%. Over half of these modifications lowered homeowners’ monthly payments by at least 30%, the FHFA said. The FHFA also noted that the overall performance of modified loans has increased over the last two quarters, with fewer than 10% of those loans falling into delinquency. The number of refinancings executed under the Administration’s Home Affordable Refinance Program (HARP) also rose by 30% during the quarter. A total of 1,013,700 “foreclosure prevention actions” have been undertaken since Fannie and Freddie were taken under government conservatorship in late 2008, the FHFA said. Freddie Mac also reported the results of its most recent weekly mortgage survey on Friday, with that survey revealing an increase in overall 30-year mortgage rates for the first time in weeks. Both 30- and 15-year mortgage rates had been at record lows for several consecutive weeks. The 15-year mortgage rates remained at 3.83%, identical to the rate reported as of Sept. 2, and still at a record low level. For the FHFA and Freddie Mac releases, use the resource links.
Other Resources

RSS





print
News Now LiveWire
CUNA: CUNA offices closed through Friday, News Now returns Monday http://t.co/a5xbLzQKDj
12 24 ago
Reminder: @CUNA's Madison, D.C. offices will be closed through Friday, open again on Monday. #NewsNow will publish Monday.
12 23 ago
MI dentist to match @CUDirect's $20K to @HurleyMedical as a result of #20for20 online voting http://t.co/hqmIc9LpK1 @CMNHospitals
12 23 ago
New #creditunion chartered in St. Louis - #LutheranFCU - by @TheNCUA http://t.co/faPfANGS0P. Only 3rd new FCU charter this year.
12 23 ago
Don't get hacked during the holidays-use these tips from @CUNA http://t.co/jEqxni6NhO #StoptheDataBreaches http://t.co/woIxPOIyys
12 23 ago