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I think the last 2-3 months has seen a big change in the mortgage industry with low-interest rates and the pandemic. Who would have imagined that we will see such high forbearance volumes? Of course, because of the pandemic, people should not be losing their homes. The good news is that 3.7 million of the foreclosure prevention actions have helped troubled homeowners stay in their homes.

The Foreclosure Prevention and Refinance Report released by the Federal Housing Finance Agency  (FHFA) shows that Fannie Mae and Freddie Mac (the Enterprises) completed 26,910 foreclosure prevention actions in the first quarter of 2020, bringing to 4.4 million the number of troubled homeowners who have been helped during conservatorships. Continue reading...