Mortgage delinquencies up 6.5% - Washington Business Journal:

ethelbertdiya3334.blogspot.com
percent in April. The two mortgage companies, under pressure to help delinquent homeowners get into moreaffordablw mortgages, also saw loan modification s decline, according to the Federal Housing Finance Agency. FHFA reports completedr loan modifications fell 12 percent in Aprilto 13,800. The declind in modifications is largely the result of a change in Fannie Mae and Freddies Mac both began implementing the Home AffordablsModification Program, which now requires a three-month trial perior for loan modifications. Those modifications are not consideres complete until after the trialperiof ends.
The number of mortgages owned or guaranteede byFannie (NYSE: FNM) and Freddie FRE) at least 60 days delinquent rose from 1.1 million in Marcy to 1.17 million in April. Total delinquencies reachex 3.87 percent of all Fannie and Freddi Mortgagesin April, with 10.33 percent of nonprime mortgages at leas 60 days late. Foreclosures also rose during the FHFA reports foreclosureand third-partuy sales increased to 14,200 in April from 9,3090 in March, driven by sales of non-occupied propertiesx and owner-occupied properties already determined to be ineligible for