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72 72 72 INVESTMENT GOVERNMENT PROPERTY PRESERVATION Journal GSES EXECUTED NEARLY 25K IN FORECLOSURE PREVENTION ACTIONS IN AUGUST e Federal Housing Finance Agency (FHFA) has issued its latest Foreclosure Preven- tion, Refinance, and Federal Property Man- ager's Report, covering the month of August 2022, which found that combined, Fannie Mae and Freddie Mac completed 24,603 foreclosure prevention actions in August, bringing the total number of actions to 6,639,479 since the start of the conservatorships in September of 2008. Approximately 39% of these foreclosure prevention actions have resulted in permanent loan modifications. e FHFA reported that there were 9,090 permanent loan modifications in August, bring- ing the total to 2,601,031 since the conservator- ship of the government-sponsored enterprises (GSEs) began in September 2008. e total number of loans in forbearance plans continued to trend downward from its peak in May 2020 but remained elevated through August 2022 compared to pre-pan- demic levels. As of August 31, 2022, there were 80,494 loans in forbearance, representing approximately 0.26% of the GSE's single-fam- ily conventional book of business, down from 84,385 or 0.27% at the end of July. Approxi- mately 6% of these loans have been in forbear- ance for more than 12 months. Nearly 58% of the loan modifications report- ed in August 2022 include "Reduce Rate" and "Extend-Term." Modifications with principal for- bearance accounted for 11% of all loan modifica- tions during the month. e number of borrowers who received payment deferrals after completing a COVID-19-related forbearance plan rose 2% from 10,631 reported in July to 10,856 in August. Forbearance plans that were initiated in August increased from 13,453 in July to 14,664 in August 2022. e total number of loans in forbearance decreased from 84,385 at the end of July to 80,494 at the end of August, representing approximately 0.26% of the total loans serviced, and 16% of the total delinquent loans. Also in August, the 30- to 59-day de- linquency rate decreased to 0.76%, while the serious delinquency rate declined to 0.71% at the end of August. ird-party and foreclosure sales decreased slightly to 1,165 while foreclo- sure starts increased by 15% to 6,248 in August 2022.