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

FANNIE MAE
(In conservatorship)

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
(UNAUDITED)
 
                                 
    As of June 30, 2011(1)   As of December 31, 2010(1)
    Percentage of
      Percentage of
   
    Single-Family
      Single-Family
   
    Conventional
  Percentage
  Conventional
  Percentage
    Guaranty Book
  Seriously
  Guaranty Book
  Seriously
    of Business(3)   Delinquent(2)(4)   of Business(3)   Delinquent(2)(4)
 
Estimated mark-to-market loan-to-value ratio:
                               
Less than 100%
    83 %     2.34 %     84 %     2.62 %
100.01% to 110%
    5       9.76       5       11.60  
110.01% to 120%
    3       12.55       3       14.74  
120.01% to 125%
    1       14.08       1       16.86  
Greater than 125%
    8       20.73       7       24.71  
Geographical distribution:
                               
Arizona
    2       4.19       2       6.23  
California
    19       2.94       18       3.89  
Florida
    6       12.19       7       12.31  
Nevada
    1       7.88       1       10.66  
Select Midwest states(5)
    10       4.54       11       4.80  
All other states
    62       3.24       61       3.46  
Product distribution (not mutually exclusive):(6)
                               
Alt-A
    7       13.04       8       13.87  
Subprime
    *       25.86       *       28.20  
Negatively amortizing adjustable rate
    *       7.97       *       9.02  
Interest only
    5       16.28       6       17.85  
Investor property
    6       4.47       6       4.79  
Condo/Coop
    9       4.90       9       5.37  
Original loan-to-value ratio >90%(7)
    10       8.82       10       10.04  
FICO credit score <620(7)
    3       13.65       4       14.63  
Original loan-to-value ratio >90% and FICO credit score <620(7)
    1       19.36       1       21.41  
Vintages:
                               
2005
    8       7.06       9       7.20  
2006
    7       11.90       8       12.19  
2007
    11       12.75       12       13.24  
2008
    8       5.17       9       4.88  
All other vintages
    66       1.59       62       1.73  
 
 
Represents less than 0.5% of the single-family conventional guaranty book of business.
 
(1) Consists of the portion of our single-family conventional guaranty book of business for which we have detailed loan level information, which constituted over 99% of our total single-family conventional guaranty book of business as of both June 30, 2011 and December 31, 2010.
 
(2) Consists of single-family conventional loans that were three months or more past due or in the foreclosure process, as of the periods indicated.

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