Fannie Mae and Freddie Mac Foreclosure Prevention Actions Dip in First Quarter; HARP Refinancings Continue Increase

Washington, DC - June 6, 2011 - (RealEstateRama) -- Fannie Mae and Freddie Mac have completed more than 1.6 million foreclosure prevention actions since the beginning of conservatorship in the fourth quarter of 2008, with more than half of these actions resulting in loan modifications. According to the FHFA’s First Quarter 2011 Foreclosure Prevention & Refinance Report, loan modifications declined for the third consecutive quarter but resulted in deeper payment reductions for more people.



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