Freddie Mac 2014 Annual Report Download - page 106

101 Freddie Mac
The table below presents serious delinquency rates and information about other problem loans in our single-family credit
guarantee portfolio.
Table 44 — Single-Family Serious Delinquency Statistics
As of December 31, 2014 As of December 31, 2013 As of December 31, 2012
Percentage
Serious
Delinquency
Rate(1) Percentage
Serious
Delinquency
Rate(1) Percentage
Serious
Delinquency
Rate(1)
Credit Protection:
Non-credit-enhanced 77% 1.74% 83% 2.09% 87% 2.66%
Credit-enhanced:(2)
Primary mortgage
insurance 14% 3.10% 12% 4.40% 12% 7.08%
Other(3) 12% 1.21% 5% 3.66% 1% 8.56%
Total(4) 1.88% 2.39% 3.25%
# of Seriously
Delinquent
Loans Percent
Serious
Delinquency
Rate
# of Seriously
Delinquent
Loans Percent
Serious
Delinquency
Rate
# of Seriously
Delinquent
Loans Percent
Serious
Delinquency
Rate
State:(5)(6)
Florida 25,656 13% 3.92% 42,948 17% 6.44% 69,034 20% 9.87%
New York 19,462 10 4.06 21,459 8 4.41 22,592 6 4.59
New Jersey 16,960 8 5.49 19,306 8 6.20 21,742 6 6.87
Illinois 11,902 6 2.17 15,521 6 2.79 22,923 7 4.08
California 11,386 6 0.92 15,620 6 1.30 27,620 8 2.34
All others 112,700 57 1.52 137,907 55 1.85 185,683 53 2.45
Total 198,066 100% 252,761 100% 349,594 100%
# of Seriously
Delinquent
Loans Percent
# of Seriously
Delinquent
Loans Percent
# of Seriously
Delinquent
Loans Percent
Aging, by locality:(6)
Judicial states:(7)
Less than or equal
to 1 year 50,138 25% 59,129 23% 79,422 23%
More than 1 year
and less than or
equal to 2 years 21,919 11 30,604 12 50,506 14
More than 2 years 48,984 25 65,154 26 77,766 22
Non-judicial states:(7)
Less than or equal
to 1 year 49,657 25 60,175 24 87,641 25
More than 1 year
and less than or
equal to 2 years 12,989 7 17,968 7 30,435 9
More than 2 years 14,379 7 19,731 8 23,824 7
Combined:(7)
Less than or equal
to 1 year 99,795 50 119,304 47 167,063 48
More than 1 year
and less than or
equal to 2 years 34,908 18 48,572 19 80,941 23
More than 2 years 63,363 32 84,885 34 101,590 29
Total 198,066 100% 252,761 100% 349,594 100%
Payment Status:
One month past due 1.52% 1.73% 1.85%
Two months past due 0.49% 0.57% 0.66%
(1) In the third quarter of 2014, we revised our presentation of single-family non-credit enhanced and credit-enhanced serious delinquency rates. As part of
this revision, we began categorizing loans covered by our STACR and ACIS risk transfer transactions as credit-enhanced, whereas they had previously
been categorized as non-credit-enhanced. This revision did not affect our total single-family serious delinquency rate. Prior periods have been revised
to conform with the current presentation.
(2) The credit enhanced categories are not mutually exclusive as a single loan may be covered by both primary mortgage insurance and other credit
protection. See “Institutional Credit Risk Profile” for information about our counterparties that provide credit enhancement on loans in our single-
family credit guarantee portfolio.
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