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The Federal Housing Finance Agency's latest report to Congress showed the number of Fannie Mae and Freddie Mac delinquent
home loans dropped nationally in the second quarter with mortgages in the 60-plus-days delinquency bucket slipping 7 percent from the first to the
second quarter. Florida continued to have the highest number of deeply delinquent loans, followed by New Jersey. In Florida, the number of loans that
have been delinquent for one year or more exceed the total number of delinquent loans in each individual state—all other 49. That's despite a decline of
8.9% in overall delinquencies and a drop of 10.7 percent in seriously delinquent loans in the Sunshine State quarter-over-quarter. Conservatorship-todate, Fannie and Freddie have completed 238,890 home retention actions and 351, 197 non-foreclosure home forfeiture actions for Florida borrowers.
Still, as of June 30, the GSEs' delinquent loans in Florida totaled 198,000. In Nevada, just 21,000 GSE-backed mortgages are past due and in New Jersey,
delinquencies tally just 81,000 between the two companies. The GSEs' delinquent loan population in California is 106,000; in New York it's 96,000,
and in Arizona, just 24,000. As expected, Florida is home to the largest inventory of GSE REO in the nation. As of the end of Q2, the two mortgage
financiers held 23,771 Florida homes on their books. Nationwide, Fannie and Freddie claim 141,543 REO homes.
Note: The state-by-state trends are based on a compilation
of August 2013 real estate public records data and proprietary
mortgage loan performance transactions provided by LPS
Data & Analytics as well as a preliminary unemployment rate for
August 2013 based upon public information from the Bureau
of Labor Statistics.
LPS Data & Analytics is a trusted resource for mortgage lenders, servicers and investors—providing
market-leading data and analytics solutions to help them succeed. These offerings allow professionals
to improve performance, proactively identify risk, create mitigation strategies and accurately estimate
collateral value. An integral part of parent company LPS' end-to-end solution suite, LPS Data & Analytics
products include: property, MLS and mortgage performance data, mortgage and real estate analytics, lead
generation, portfolio monitoring and analytics, valuations and property tax reporting. To learn more about
LPS visit LPSvcs.com.
