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SEC Filings

10-Q
FEDERAL NATIONAL MORTGAGE ASSOCIATION FANNIE MAE filed this Form 10-Q on 05/06/2011
Entire Document
 
Table of Contents

Table 37 presents the conventional serious delinquency rates and other financial information for our single-family loans with some of these higher-risk characteristics as of the periods indicated. The reported categories are not mutually exclusive. See “Consolidated Results of Operations—Credit-Related Expenses—Credit Loss Performance Metrics” for information on the portion of our credit losses attributable to Alt-A loans and certain other higher-risk loan categories.
 
Table 37:  Single-Family Conventional Serious Delinquency Rate Concentration Analysis
 
                                                                                                 
    As of  
    March 31, 2011     December 31, 2010     March 31, 2010  
                      Estimated
                      Estimated
                      Estimated
 
                      Mark-to-
                      Mark-to-
                      Mark-to-
 
    Unpaid
    Percentage
    Serious
    Market
    Unpaid
    Percentage
    Serious
    Market
    Unpaid
    Percentage
    Serious
    Market
 
    Principal
    of Book
    Delinquency
    LTV
    Principal
    of Book
    Delinquency
    LTV
    Principal
    of Book
    Delinquency
    LTV
 
    Balance     Outstanding     Rate     Ratio(1)     Balance     Outstanding     Rate     Ratio(1)     Balance     Outstanding     Rate     Ratio(1)  
    (Dollars in millions)  
 
States:
                                                                                               
Arizona
  $ 70,055       2 %     5.16 %     110 %   $ 71,052       2 %     6.23 %     105 %   $ 74,831       3 %     8.76 %     103 %
California
    518,569       19       3.35       78       507,598       18       3.89       76       492,294       17       5.72       77  
Florida
    182,943       7       12.40       110       184,101       7       12.31       107       192,724       7       13.27       103  
Nevada
    30,856       1       9.40       133       31,661       1       10.66       128       34,166       1       13.95       130  
Select Midwest states(2)
    294,182       10       4.62       82       292,734       11       4.80       80       302,017       11       5.65       80  
All other states
    1,718,421       61       3.34       73       1,695,615       61       3.46       71       1,701,543       61       4.19       70  
Product type:
                                                                                               
Alt-A
    203,709       7       13.45       100       211,770       8       13.87       96       238,325       9       16.22       94  
Subprime
    6,328       *       27.47       108       6,499       *       28.20       103       7,179       *       31.47       100  
Vintages:
                                                                                               
2006
    218,938       8       12.12       109       232,009       8       12.19       104       277,752       10       13.42       100  
2007
    315,420       11       13.08       109       334,110       12       13.24       104       401,782       14       14.85       99  
All other vintages
    2,280,667       81       2.50       72       2,216,642       80       2.62       70       2,118,041       76       3.12       68  
Estimated mark-to-
market LTV ratio:
                                                                                               
Greater than 100%(1)
    499,432       18       15.72       130       435,991       16       17.70       130       439,327       16       21.79       129  
Select combined risk characteristics:
                                                                                               
Original LTV ratio > 90% and FICO score < 620
    20,656       1       20.20       113       21,205       1       21.41       109       23,395       1       26.94       106  
 
 
* Percentage is less than 0.5%.
 
(1) Second lien mortgage loans held by third parties are not included in the calculation of the estimated mark-to-market LTV ratios.
 
(2) Consists of Illinois, Indiana, Michigan and Ohio.
 
Loan Workout Metrics
 
The efforts of our mortgage servicers are critical in keeping people in their homes, preventing foreclosures and providing homeowner assistance. We continue to work with our servicers to implement our foreclosure prevention initiatives effectively and to find ways to enhance our workout protocols and their workflow processes. Additionally, partnering with our servicers, civic and community leaders and housing industry partners, we have launched a series of nationwide Mortgage Help Centers to accelerate the response time for struggling borrowers with loans owned by us. As of March 31, 2011, we have established six Mortgage Help Centers which completed approximately 800 home retention plans in the first quarter of 2011.


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