Fannie Mae and Freddie Mac completed 48,439 foreclosure prevention actions in the second quarter of 2026, such as loan modifications, repayment plans, forbearance and short sales. That was down from 58,317 in the first quarter. At the end of June, 37,283 of their loans were in forbearance, about 0.12% of the loans they back.
Their serious delinquency rate, loans 90 or more days past due or in foreclosure, was 0.59%, the same as in the first quarter and up from 0.54% a year earlier. The rate on FHA loans was ten times as high, 6.07%, and the rate for all mortgages was 2.06%. Fannie and Freddie mostly back loans to borrowers with higher credit scores and larger down payments.
Foreclosure starts rose to 25,908 in the quarter, from 21,846 a year earlier, and completed foreclosure and third-party sales rose to 3,894 from 3,194.
July 2026
In July, the latest month reported, Fannie and Freddie completed 16,195 foreclosure prevention actions. The serious delinquency rate held at 0.59% and the 30-59 day delinquency rate fell to 0.96%. Foreclosure starts fell 22.4% from June to 7,569, and foreclosure and third-party sales were flat at 1,403.
Last five quarters
| Quarter | Foreclosure prevention actions | Forbearance plans started | Loans in forbearance at quarter-end | Serious delinquency, Fannie and Freddie | Serious delinquency, FHA | Serious delinquency, all loans | Foreclosure starts | Foreclosure and third-party sales |
|---|---|---|---|---|---|---|---|---|
| Q2 2026 | 48,439 | 26,906 | 37,283 | 0.59% | 6.07% | 2.06% | 25,908 | 3,894 |
| Q1 2026 | 58,317 | 27,477 | 37,196 | 0.59% | 6.10% | 2.03% | 25,413 | 3,739 |
| Q4 2025 | 55,028 | 44,688 | 46,680 | 0.58% | 5.16% | 1.85% | 26,148 | 3,508 |
| Q3 2025 | 50,096 | 23,674 | 33,360 | 0.55% | 4.10% | 1.61% | 24,802 | 3,344 |
| Q2 2025 | 54,750 | 22,119 | 34,713 | 0.54% | 3.80% | 1.57% | 21,846 | 3,194 |
Foreclosure prevention actions include home retention actions (modifications, repayment plans, forbearance plans, charge-offs in lieu and payment deferrals) and home forfeiture actions (short sales and deeds in lieu). Since the conservatorships began in September 2008, the two companies have completed 7,425,684 such actions through June 2026. FHA and all-loan delinquency rates are as cited by FHFA from the Mortgage Bankers Association.
Source
Federal Housing Finance Agency, Foreclosure Prevention, Refinance, and Federal Property Manager's Reports for the second quarter of 2025 through the second quarter of 2026, and for July 2026 (published October 15, 2026), retrieved October 24, 2026. U.S. government data in the public domain. Our table is available under CC BY 4.0. Credit "My Credit Guide (mycreditguide.org)".
Steven Reynolds, "Fannie Mae and Freddie Mac Foreclosure Prevention and Delinquency," My Credit Guide, October 24, 2026, https://mycreditguide.org/data/fannie-freddie-foreclosure-prevention/.