The number of mortgage-loan modifications completed by Fannie Mae and Freddie Mac in November jumped by nearly 70% compared with the monthly average for the first nine months of 2008, according to the Federal Housing Finance Agency (FHFA). Compared with the monthly average of 4,948 for the first nine months of 2008, October modifications increased by 13.2% and November increased by 67.6%, according to FHFA. During November 2008, both Fannie and Freddie announced a suspension of foreclosure sales and evictions scheduled to occur from Nov 26, 2008, through Jan 9, 2009, on single-family properties.
GSE loan modifications jump in November Anonymous Mortgage Banking; Mar 2009; 69, 6; Docstoc pg. 12 Reproduced with permission of the copyright owne
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