in Estimated risk per 29.07.2022 17:39:00
Fanny Mae informed that the rate of serious offenses per family fell to 0.81% in June from 0.87% in May. The severe delinquency rate has decreased from 2.08% in June 2021. It’s almost back to pre-pandemic levels.
These are mortgages that are “past due or collectible on three or more monthly payments.”
Fannie Mae’s Severe NPLs peaked in February 2010 at 5.59% after the housing bubble and peaked at 3.32% in August 2020 during the pandemic.
In vintagefor loans issued in 2004 or earlier (1% of the portfolio), 2.75% are seriously past due (compared to 2.86% in May).
For loans issued in 2005–2008 (1% of the portfolio), 4.45% have serious offenses (compared to 4.67%),
In this monthly report, delinquent mortgages are considered delinquent, but are not reported to credit bureaus.
The rise in NPLs associated with the pandemic was very different from the rise in NPLs after the housing bubble. Lending standards had been quite high during the previous decade and most of these homeowners had equity in their homes and the vast majority of these homeowners were able to restructure their loans as soon as they got a job.
Freddie Mac informed previously.