Fannie Mae loan delinquencies drop in March(Read article summary)
The decrease is the first drop in delinquencies in almost three years.
Friday’s release of the Fannie Mae Monthly Summary for April indicated that for data through March, total serious single family delinquency declined slightly.
Although this is a notable development particularly in light of the fact that Fannie Mae’s serious delinquency has been rising for roughly 33 consecutive months, more data is needed before any conclusions can be drawn as to the trend going forward.
For March, 3.90% of non-credit enhanced loans went seriously delinquent while the level was 13.29% of credit enhanced loans resulting in an overall total single family delinquency of 5.47%.
The following charts (click for larger ultra-dynamic and surf-able chart) show what Fannie Mae terms the count of “Seriously Delinquent” loans as a percentage of all loans on their books.
It’s important to understand that Fannie Mae does NOT segregate foreclosures from delinquent loans when reporting these numbers.