Hello neighbors,

During the four-quarter period which ended March 31st, Genworth Financial (mortgage insurer) assisted servicers with foreclosure prevention workouts on a total of $3.4 billion mortgages.

This has produced an 81% increase in the dollar amount of saved mortgages in comparison to this time last year. Along with lenders and servicers, Genworth has completed 23,360 mortgage workouts within the past 12 months.

As for the actual breakdown: 33% of loan modifications accounted for all workouts, HAMP mods accounted for 24%, 19% consisted of repayment plans, short sales took 18%, the Homesaver Advance Program by Genworth accounted for 4%, and the other 2% consisted of other workout types.

The top 10 Leaders in the foreclosure prevention efforts included: California with $347 million mortgages, Florida with $342 million mortgages, Arizona with $175million mortgages, Texas with $173 mortgages, Illinios with $167 million mortgages, Georgia with $164 million mortgages, New York with $152 million mortgages, New Jersey with $144 million mortgages, North Carolina with $122 million mortgages, and Maryland with $107 million mortgages receiving workouts.

Nationally, there was a total of 80% of workouts categorized as "cures" which enabled borrowers to become current on their mortgages. Currently the company's cure rate sits above 80% in 35 of the 50 United States.

Lastly, there was an average savings of $144,730 per borrower on each mortgage workout.