A supplement to this week’s Gold News Network Show… Seriously past-due home mortgages continue to decline for the nation’s largest mortgage company, continuing a 15-month path of descent.
Decline in Past-due Mortgages
Seriously past-due home mortgages continue to decline for the nation’s largest mortgage company, continuing a 15-month path of descent. Fannie Mae says the share of single-family loans it holds that are 90 or more days past due or in foreclosure fell 8 basis points to 4.19 percent in April, and then dropped another 5 basis points to 4.14 percent in May. Fannie Mae says servicers completed modifications on sixteen thousand, four hundred, and nineteen of its loans in May. For the first five months of the year, loan modifications total 84,133. That’s eighty four thousand, one hundred and thirty three loan modification with Fannie Mae since January 1st.
