How to add predictive analytics into your risk program. Risk reports are often limited to historical insights and issues and do not provide guidance and insights into the future of the organization. Adding predictive analytics can allow your organization to detect emerging risks and create mitigation plans. This can be achieved by combining internal and external key risk indicators (KRIs) and key performance indicators (KPIs) with regulatory intelligence. This ensures that risk reports can detect more issues and highlight areas of concern. Click here to learn more.
Fannie and Freddie foreclosure prevention
The FHFA released its First Quarter 2019 Foreclosure Prevention Report, which shows that Fannie Mae and Freddie Mac completed 38,968 foreclosure prevention actions in the first quarter of 2019, bringing the total number of foreclosure prevention actions to 4,322,804 since September 2008. The report also shows that 38 percent of loan modifications completed in the first quarter reduced borrowers' monthly payments by more than 20 percent. The Enterprises' serious delinquency rate dropped to 0.71 percent at the end of the first quarter. This compares with 3.45 percent for Federal Housing Administration (FHA) loans, 1.87 percent for Veterans Affairs (VA) loans and 1.96 percent for all loans (industry average).