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SEC Filings

10-Q
FEDERAL NATIONAL MORTGAGE ASSOCIATION FANNIE MAE filed this Form 10-Q on 08/05/2011
Entire Document
 
Table of Contents

Table 38 presents the serious delinquency rates and other financial information for our single-family conventional loans with some of these higher-risk characteristics as of the periods indicated. The reported categories are not mutually exclusive.
 
Table 38:  Single-Family Conventional Serious Delinquency Rate Concentration Analysis
 
                                                                                                 
    As of
    June 30, 2011   December 31, 2010   June 30, 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
  $ 68,634       2 %     4.19 %     109 %   $ 71,052       2 %     6.23 %     105 %   $ 73,402       3 %     7.48 %     100 %
California
    516,760       19       2.94       78       507,598       18       3.89       76       496,731       17       4.99       75  
Florida
    180,681       6       12.19       107       184,101       7       12.31       107       189,569       7       12.60       102  
Nevada
    29,763       1       7.88       134       31,661       1       10.66       128       33,345       1       12.83       129  
Select Midwest states(2)
    290,612       10       4.54       82       292,734       11       4.80       80       298,607       11       5.17       78  
All other states
    1,707,490       62       3.24       72       1,695,615       61       3.46       71       1,694,015       61       3.82       68  
Product type:
                                                                                               
Alt-A
    195,284       7       13.04       100       211,770       8       13.87       96       227,206       8       15.17       93  
Subprime
    6,152       *       25.86       109       6,499       *       28.20       103       6,922       *       29.96       99  
Vintages:
                                                                                               
2006
    207,140       7       11.90       109       232,009       8       12.19       104       262,925       9       12.52       99  
2007
    298,856       11       12.75       109       334,110       12       13.24       104       380,220       14       13.79       99  
All other vintages
    2,287,944       82       2.42       71       2,216,642       80       2.62       70       2,142,524       77       2.88       67  
Estimated mark-to-market LTV ratio:
                                                                                               
Greater than 100%(1)
    472,549       17       15.13       132       435,991       16       17.70       130       399,133       14       20.57       130  
Select combined risk characteristics:
                                                                                               
Original LTV ratio > 90% and FICO score < 620
    20,063       1       19.36       113       21,205       1       21.41       109       22,655       1       24.28       105  
 
 
* 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. 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 June 30, 2011, we have established nine Mortgage Help Centers which completed nearly 2,300 home retention plans in the first half of 2011. Additionally, we currently offer up to twelve months forbearance for those homeowners who are unemployed as an additional tool to help homeowners avoid foreclosure.


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