The serious delinquency rate continued to decline in August, dropping by another three basis points down to 1.45 percent. The serious delinquency rate on Freddie Mac-backed loans is now seven basis points lower than it was in November 2008 at the start of the financial crisis (1.52 percent) and nearly 2 percentage points lower than the national serious delinquency rate reported by CoreLogic for July 2015 (3.4 percent).
A total of 4,137 homeowners with Freddie Mac-backed loans received permanent loan modifications in August, a slight decline from July's total of 4,347. Year-to-date as of August 31, a total of 38,796 Freddie Mac-insured homeowners have received loan modifications, an average of 4,849 modifications per month. In 2014, homeowners averaged 5,596 permanent loan mods per month.
So has the boat already sailed for those of us who specialize in REO and Short Sales??