Mortgage Severe Delinquency Fee Decreased in March

by Calculated Threat on 4/30/2021 04:27:00 PM Fannie Mae reported that the Single-Household Severe Delinquency decreased to 2.58% in March, from 2.76% in February. The intense delinquency fee is up from 0.66% in March 2020. These are mortgage loans which can be “three month-to-month funds or extra overdue or in foreclosures”. The Fannie Mae critical


by Calculated Threat on 4/30/2021 04:27:00 PM

Fannie Mae reported that the Single-Household Severe Delinquency decreased to 2.58% in March, from 2.76% in February. The intense delinquency fee is up from 0.66% in March 2020.

These are mortgage loans which can be “three month-to-month funds or extra overdue or in foreclosures”.

The Fannie Mae critical delinquency fee peaked in February 2010 at 5.59% following the housing bubble, and peaked at 3.32% in August 2020 in the course of the pandemic.

Click on on graph for bigger picture

By classic, for loans made in 2004 or earlier (2% of portfolio), 5.66% are severely delinquent (down from 5.90% in February). For loans made in 2005 via 2008 (2% of portfolio), 9.65% are severely delinquent (down from 10.01%), For current loans, originated in 2009 via 2021 (96% of portfolio), 2.13% are severely delinquent (down from 2.29%). So Fannie continues to be working via just a few poor performing loans from the bubble years.

Mortgages in forbearance are counted as delinquent on this month-to-month report, however they won’t be reported to the credit score bureaus.

That is very completely different from the rise in delinquencies following the housing bubble.   Lending requirements have been pretty strong over the past decade, and most of those owners have fairness of their properties – and they’re going to be capable of restructure their loans as soon as they’re employed.

Be aware: Freddie Mac reported earlier.



Supply hyperlink

The Fund Times
ADMINISTRATOR
PROFILE

Posts Carousel

Leave a Comment

Your email address will not be published. Required fields are marked with *

Latest Posts

Top Authors

Most Commented

Featured Videos