>WASHINGTON | Mon Jun 6, 2011 6:20pm EDT
WASHINGTON (Reuters) – The number of loan modifications and mortgage repayment plans completed by Fannie Mae (FNMA.OB) and Freddie Mac (FMCC.OB) declined in the first quarter of 2011 as fewer borrowers were eligible for help, their federal regulator said on Monday.
The mortgage buyers’ foreclosure prevention actions, which also include completing sales of homes below market value, fell to 171,531 from 208,416 in the previous quarter.
Many borrowers in the pipeline for aid are now severely delinquent and therefore do not qualify.
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