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10-Q
FEDERAL NATIONAL MORTGAGE ASSOCIATION FANNIE MAE filed this Form 10-Q on 05/07/2015
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loan population as of March 31, 2015. In addition, loans in certain states such as Florida, Illinois, New Jersey and New York have exhibited higher than average delinquency rates and/or account for a higher share of our credit losses.
Table 28 displays the serious delinquency rates for, and the percentage of our total seriously delinquent single-family conventional loans represented by, the specified loan categories. We also include information for our loans in California, as this state accounts for a large share of our single-family conventional guaranty book of business. The reported categories are not mutually exclusive.
Table 28: Single-Family Conventional Seriously Delinquent Loan Concentration Analysis
 
As of
 
March 31, 2015
December 31, 2014
March 31, 2014
 
 
Percentage of Book Outstanding
 
Percentage of Seriously Delinquent Loans(1)
 
Serious Delinquency Rate
 
Percentage of Book Outstanding
 
Percentage of Seriously Delinquent Loans(1)
 
Serious Delinquency Rate
 
Percentage of Book Outstanding
 
Percentage of Seriously Delinquent Loans(1)
 
Serious Delinquency Rate
States:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
California
 
20
%
 
5
%
 
0.66
%
 
20
%
 
5
%
 
0.70
%
 
20
%
 
6
%
 
0.86
%
Florida
 
6

 
14

 
3.91

 
6

 
15

 
4.42

 
6

 
18

 
6.12

Illinois
 
4

 
6

 
2.20

 
4

 
6

 
2.36

 
4

 
6

 
2.79

New Jersey
 
4

 
10

 
5.62

 
4

 
10

 
5.78

 
4

 
9

 
6.08

New York
 
5

 
11

 
4.04

 
5

 
10

 
4.17

 
5

 
9

 
4.31

All other states
 
61

 
54

 
1.43

 
61

 
54

 
1.52

 
61

 
52

 
1.70

Product type:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Alt-A
 
4

 
18

 
7.41

 
4

 
18

 
7.77

 
5

 
19

 
8.72

Vintages:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2004 and prior
 
7

 
27

 
3.17

 
7

 
28

 
3.26

 
9

 
28

 
3.36

2005
 
3

 
12

 
5.94

 
3

 
12

 
6.18

 
3

 
13

 
6.81

2006
 
3

 
16

 
9.14

 
3

 
16

 
9.61

 
3

 
18

 
10.58

2007
 
4

 
23

 
10.34

 
4

 
23

 
10.79

 
5

 
24

 
11.53

2008
 
2

 
8

 
6.05

 
2

 
8

 
6.27

 
3

 
8

 
6.40

2009
 
6

 
3

 
1.00

 
6

 
3

 
1.00

 
7

 
3

 
0.95

2010
 
8

 
3

 
0.59

 
9

 
3

 
0.59

 
10

 
2

 
0.55

2011
 
9

 
2

 
0.42

 
10

 
2

 
0.42

 
11

 
1

 
0.35

2012
 
23

 
3

 
0.28

 
24

 
3

 
0.27

 
25

 
2

 
0.19

2013
 
20

 
3

 
0.25

 
21

 
2

 
0.22

 
23

 
1

 
0.07

2014
 
12

 
*

 
0.07

 
11

 
*

 
0.04

 
1

 

 

2015
 
3

 

 

 

 

 

 

 

 

Estimated mark-to-market LTV ratio:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
<= 60%
 
42

 
23

 
0.85

 
42

 
23

 
0.88

 
38

 
19

 
0.92

60.01% to 70%
 
19

 
12

 
1.29

 
19

 
12

 
1.36

 
19

 
11

 
1.39

70.01% to 80%
 
18

 
14

 
1.62

 
18

 
14

 
1.75

 
19

 
13

 
1.75

80.01% to 90%
 
10

 
14

 
2.76

 
10

 
14

 
3.04

 
11

 
13

 
3.15

90.01% to 100%
 
6

 
12

 
4.08

 
6

 
12

 
4.59

 
6

 
13

 
4.86

Greater than 100%
 
5

 
25

 
10.43

 
5

 
25

 
10.98

 
7

 
31

 
11.27

Credit enhancement(2):
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Credit enhanced
 
16

 
26

 
3.21

 
16

 
27

 
3.47

 
15

 
27

 
4.27

Non-credit enhanced
 
84

 
74

 
1.53

 
84

 
73

 
1.62

 
85

 
73

 
1.85

__________
*
Represents less than 0.5% of single-family conventional business volume or book of business.

52