Fannie Mae 2014 Annual Report Download - page 278

FANNIE MAE
(In conservatorship)
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued)
F-63
For single-family and multifamily loans, we use this information, in conjunction with housing market and economic
conditions, to structure our pricing and our eligibility and underwriting criteria to reflect the current risk of loans with these
higher-risk characteristics, and in some cases we decide to significantly reduce our participation in riskier loan product
categories. Management also uses this data together with other credit risk measures to identify key trends that guide the
development of our loss mitigation strategies.
The following tables display the delinquency status and serious delinquency rates for specified loan categories of our single-
family conventional and total multifamily guaranty book of business as of December 31, 2014 and 2013.
As of December 31,
2014(1) 2013(1)
30 Days
Delinquent 60 Days Delinquent Seriously Delinquent(2) 30 Days Delinquent 60 Days Delinquent Seriously Delinquent(2)
Percentage of single-family conventional guaranty
book of business(3) . . . . . . . . . . . . . . . . . . . . . . . . 1.27% 0.38% 1.99% 1.41% 0.44% 2.54%
Percentage of single-family conventional loans(4). . 1.47 0.43 1.89 1.64 0.49 2.38
As of December 31,
2014(1) 2013(1)
Percentage of
Single-Family
Conventional
Guaranty Book
of Business(3)
Seriously
Delinquent
Rate(2)
Percentage of
Single-Family
Conventional
Guaranty Book
of Business(3)
Seriously
Delinquent
Rate(2)
Estimated mark-to-market loan-to-value ratio:
Greater than 100% . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5% 10.98% 7% 12.22%
Geographical distribution:
California . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 0.70 20 0.98
Florida . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 4.42 6 6.89
Illinois . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 2.36 4 3.12
New Jersey. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 5.78 4 6.25
New York. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 4.17 5 4.42
All other states . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 61 1.52 61 1.85
Product distribution:
Alt-A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 7.77 5 9.23
Vintages:
2005 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 6.18 4 7.26
2006 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 9.61 3 11.26
2007 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 10.79 5 12.18
2008 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 6.27 3 6.69
All other vintages. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 88 0.88 85 1.02
__________
(1) Consists of the portion of our single-family conventional guaranty book of business for which we have detailed loan level information,
which constituted approximately 99% of our total single-family conventional guaranty book of business as of December 31, 2014 and
2013.
(2) Consists of single-family conventional loans that were 90 days or more past due or in the foreclosure process as of December 31, 2014
and 2013.
(3) Calculated based on the aggregate unpaid principal balance of single-family conventional loans for each category divided by the
aggregate unpaid principal balance of loans in our single-family conventional guaranty book of business.
(4) Calculated based on the number of single-family conventional loans that were delinquent divided by the total number of loans in our
single-family conventional guaranty book of business.