19
FANNIE MAE
UPDATES ON
SINGLE-FAMILY
DELINQUENCY
RATE
Fannie Mae's Conventional Single-Family
Serious Delinquency Rate increased 59 basis
points to 3.24% in July. One year earlier, this
serious delinquency rate was 0.67%.
In weighing serious delinquency rates
based on vintage, the highest level of
problematic loans was in the 2005 to 2008
origination period (9.36%), followed by loans
originated in 2004 and earlier (5.57%) and
loans originated from 2009 onward (2.79%).
As of July 31, 5.8% of Fannie Mae's
Single-Family Guaranty Book of Business
was based on unpaid principal balance in
active forbearance and 5% of its loan count
was also in active forbearance; in comparison.
e majority of loans were active forbearance
were attributed to financial problems related
to the COVID-19 pandemic.
Fannie Mae's Multifamily Serious
Delinquency Rate increased 25 basis points
to 1.25%, while only 1.1% of its Multifamily
Guaranty Book of Business based on unpaid
principal balance was in an active forbearance.
As with the single-family side of the business,
Fannie Mae attributed the majority of active
forbearance conditions to the pandemic's
economic tumult.
Fannie Mae's Guaranty Book of Business
increased at a compound annualized rate
of 8.7% in July, to $3.55 billion, with $3.43
billion in mortgage-backed securities
and $115.4 million in mortgage loans. In
comparison, the Guaranty Book of Business
was at a compounded annualized rate of 6.8%
for a total of $3.31 billion.
Fannie Mae issued resecuritizations in July
that were backed by $8.4 billion in Freddie
Mac securities. Fannie Mae's maximum
exposure to Freddie Mac collateral for the
month that was included in outstanding
Fannie Mae resecuritizations was $105.7
billion.
