If Fannie Mae's third-quarter report will be most remembered for a massive, if well-telegraphed, $29 billion net loss, also noteworthy was new data showing a huge spike in its acceptance of unsecured bridge loans designed to help delinquent homeowners avoid foreclosure.

The HomeSaver Advance program — in which a servicer makes a personal loan to the homeowner (the average loan to date is around $6,700), sells it to Fannie, and brings the mortgage current — made up by far the biggest portion of the government-sponsored enterprise's workouts last quarter. The advances dwarfed all other workout types, including modifications of mortgage terms.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.