Freddie Mac Loan Mods Rise In June, HARP 18 Percent Of Loan Activity

Freddie Mac Loan Mods Rise In June, HARP 18 Percent Of Loan Activity

Freddie Mac Loan Mods Rise In June, HARP 18 Percent Of Loan Activity

Freddie Mac Refinance Numbers Rise

How is HARP 2.0 doing? According to recent Freddie Mac numbers, loan modifications increased nearly 30 percent more mortgage workouts in June as compared to May. In fact, modifications completed through the federal Home Affordable Refinance Program (better know as HARP 2.0) accounted for 18 percent of its loan activity in June.

The delinquency rate for single-family homes in Freddie Mac’s portfolio, meanwhile, declined to 3.45 percent; and delinquencies for multifamily housing rose slightly to 0.27 percent.

Freddie Mac completed a total of 6,597 loan modifications in June, an healthy increase of 29.6 percent over the 5,091 loan modifications completed in May. Through the first six months of 2012, Freddie Mac totaled 28,819 loan mods, an average of 4,803 per month, which marks just over half of their 2011 average of 9,098 loan modifications per month.

In the last month June 2012, HARP 2.0 refinance applications accounted for 24 percent of all loan applications, and many expect that portion to rise for the next few months.

Freddie Mac Loan Mods Rise In June, HARP 18 Percent Of Loan Activity

Freddie Mac Loan Mods Rise In June, HARP 18 Percent Of Loan Activity

Freddie Mac Loan Mods Rise In June, HARP 18 Percent Of Loan Activity

Freddie Mac Loan Mods Rise In June, HARP 18 Percent Of Loan Activity

Freddie Mac Loan Mods Rise In June, HARP 18 Percent Of Loan Activity

Freddie Mac Loan Mods Rise In June, HARP 18 Percent Of Loan Activity

Freddie Mac Loan Mods Rise In June, HARP 18 Percent Of Loan Activity

Freddie Mac Loan Mods Rise In June, HARP 18 Percent Of Loan Activity

Freddie Mac Loan Mods Rise In June, HARP 18 Percent Of Loan Activity

Freddie Mac Loan Mods Rise In June, HARP 18 Percent Of Loan Activity

Freddie Mac Loan Mods Rise In June, HARP 18 Percent Of Loan Activity

Freddie Mac Loan Mods Rise In June, HARP 18 Percent Of Loan Activity

Freddie Mac Loan Mods Rise In June, HARP 18 Percent Of Loan Activity

Freddie Mac Loan Mods Rise In June, HARP 18 Percent Of Loan Activity

Freddie Mac Loan Mods Rise In June, HARP 18 Percent Of Loan Activity

Freddie Mac Loan Mods Rise In June, HARP 18 Percent Of Loan Activity

Freddie Mac Loan Mods Rise In June, HARP 18 Percent Of Loan Activity

Freddie Mac Loan Mods Rise In June, HARP 18 Percent Of Loan Activity

Freddie Mac Loan Mods Rise In June, HARP 18 Percent Of Loan Activity

Freddie Mac Loan Mods Rise In June, HARP 18 Percent Of Loan Activity

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2 Comments

Filed under Banks, Loan Modifications

2 responses to “Freddie Mac Loan Mods Rise In June, HARP 18 Percent Of Loan Activity

  1. Pingback: Live From Inman Connect 2012 San Francisco – Opening Session | Resource Blog

  2. Pingback: Freddie Mac Delinquencies Drop To Nearly 3 Year Low | Resource Blog

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