Fannie Mae 2009 Annual Report Download - page 157

2009 2008 2007 2009 2008 2007
Percent of Conventional
Single-Family Business Volume
(2)
For The Year Ended December 31,
Percent of Conventional
Single-Family Guaranty
Book of Business
(3)
As of December 31,
660 to G700.................. 7 14 19 16 17 18
700 to G740.................. 17 22 23 22 23 23
H=740...................... 74 55 40 50 45 43
Not available . . . . . . . . . . . . . . . . . . * — — * 1 1
Total . . . . . . . . . . . . . . . . . . . . . . 100% 100% 100% 100% 100% 100%
Weighted average. . . . . . . . . . . . . . 761 738 716 730 724 721
Loan purpose:
Purchase . . . . . . . . . . . . . . . . . . . . . 20% 41% 50% 36% 41% 41%
Cash-out refinance. . . . . . . . . . . . . . . 27 31 32 31 32 32
Other refinance . . . . . . . . . . . . . . . . . 53 28 18 33 27 27
Total . . . . . . . . . . . . . . . . . . . . . . 100% 100% 100% 100% 100% 100%
Geographic concentration:
(8)
Midwest...................... 16% 15% 15% 16% 16% 17%
Northeast . . . . . . . . . . . . . . . . . . . . . 19 18 18 19 19 19
Southeast . . . . . . . . . . . . . . . . . . . . . 20 23 26 24 25 25
Southwest..................... 15 16 18 15 16 16
West ........................ 30 28 23 26 24 23
Total . . . . . . . . . . . . . . . . . . . . . . 100% 100% 100% 100% 100% 100%
Origination year:
G=1999...................... 2% 2% 3%
2000 ........................ * * *
2001 ........................ 1 2 2
2002 ........................ 4 5 7
2003 ........................ 14 18 22
2004 ........................ 7 10 12
2005 ........................ 10 13 16
2006 ........................ 11 14 17
2007 ........................ 15 20 21
2008 ........................ 13 16 —
2009 ........................ 23 — —
Total . . . . . . . . . . . . . . . . . . . . . . 100% 100% 100%
* Represents less than 0.5% of conventional single-family business volume or book of business.
(1)
We reflect second lien loans in the original LTV ratio calculation only when we own both the first and second mortgage liens or we
own only the second mortgage lien. Second lien mortgage loans represented less than 0.5% of our conventional single-family business
volume for each of the years ended December 31, 2009, 2008 and 2007, and less than 0.5% of our conventional single-family
guaranty book of business as of December 31, 2009, 2008 and 2007. Second lien loans held by third parties are not reflected in the
original LTV or mark-to-market LTV ratios in this table.
(2)
Percentages calculated based on unpaid principal balance of loans at time of acquisition. Single-family business volume refers to both
single-family mortgage loans we purchase for our mortgage portfolio and single-family mortgage loans we securitize into Fannie Mae
MBS.
(3)
Percentages calculated based on unpaid principal balance of loans as of the end of each period.
(4)
The original LTV ratio generally is based on the original unpaid principal balance of the loan divided by the appraised property value
reported to us at the time of acquisition of the loan. Excludes loans for which this information is not readily available.
(5)
We purchase loans with original LTV ratios above 80% to fulfill our mission to serve the primary mortgage market and provide
liquidity to the housing system. Except as permitted under HARP, our charter generally requires primary mortgage insurance or other
credit enhancement for loans that we acquire that have a LTV ratio over 80%.
(6)
The aggregate estimated mark-to-market LTV ratio is based on the unpaid principal balance of the loan as of the end of each reported
period divided by the estimated current value of the property, which we calculate using an internal valuation model that estimates
periodic changes in home value. Excludes loans for which this information is not readily available.
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