Freddie Mac 2008 Annual Report Download - page 164

Table 70 — Single-Family Credit Loss Concentration Analysis
(1)
Composition Alt-A Non Alt-A Alt-A Non Alt-A
2008 2007
Unpaid Principal Balance
As of December 31,
(in billions)
Year of loan origination
2008 ............................................................................. $ 16 $ 261 $ — $ —
2007 ............................................................................. 57 291 60 287
2006 ............................................................................. 52 222 60 260
All other . ......................................................................... 60 891 68 1,016
Total ............................................................................. $ 185 $1,665 $ 188 $1,563
State
CA.............................................................................. $ 41 $ 215 $ 41 $ 187
FL.............................................................................. 18 106 18 101
AZ.............................................................................. 7 44 8 41
VA.............................................................................. 6 55 6 51
NV.............................................................................. 4 18 5 17
GA.............................................................................. 6 55 6 52
MI.............................................................................. 3 58 3 59
MD ............................................................................. 5 47 5 44
Subtotal .......................................................................... $ 90 $ 598 $ 92 $ 552
All other states . . . .................................................................... 95 1,067 96 1,011
Total ............................................................................. $ 185 $1,665 $ 188 $1,563
Composition Alt-A Non Alt-A Alt-A Non Alt-A
2008 2007
Credit Losses
(2)
For the Twelve Months Ended December 31,
(in millions)
Year of original purchase
2008 ............................................................................. $ 3 $ 12 $ — $ —
2007 ............................................................................. 583 369 5 (7)
2006 ............................................................................. 1,058 501 85 7
All other . ......................................................................... 234 999 — 405
Total ............................................................................. $1,878 $1,881 $ 90 $ 405
State
CA.............................................................................. $ 800 $ 343 $ 28 $ 12
FL.............................................................................. 207 174 6 (3)
AZ.............................................................................. 203 139 3 (2)
VA.............................................................................. 143 49 8 1
NV.............................................................................. 111 41 — —
GA.............................................................................. 72 106 7 11
MI.............................................................................. 49 331 8 117
MD ............................................................................. 23 12 1 (1)
Subtotal .......................................................................... $1,608 $1,195 $ 61 $ 135
All other states . . . .................................................................... 270 686 29 270
Total ............................................................................. $1,878 $1,881 $ 90 $ 405
Composition Alt-A Non Alt-A Alt-A Non Alt-A
2008 2007
Delinquency Rates
(3)
As of December 31,
Year of loan origination
2008 ............................................................................. 1.57% 0.51% —% —%
2007 ............................................................................. 7.71 2.77 1.26 0.31
2006 ............................................................................. 8.75 2.43 2.84 0.69
All other . ......................................................................... 3.38 1.15 1.74 0.66
Total ............................................................................. 5.61 1.44 1.92 0.62
State
CA.............................................................................. 8.61 1.41 2.25 0.29
FL.............................................................................. 13.66 3.66 3.64 0.91
AZ.............................................................................. 8.99 2.03 2.68 0.44
VA.............................................................................. 3.97 0.79 1.82 0.29
NV.............................................................................. 13.73 2.43 3.86 0.57
GA.............................................................................. 4.30 1.67 2.02 0.85
MI.............................................................................. 4.98 1.58 2.83 0.74
MD ............................................................................. 6.38 1.19 1.63 0.37
Subtotal .......................................................................... 9.19 1.92 2.67 0.57
All other states . . . .................................................................... 3.00 1.21 1.37 0.64
Total 5.61% 1.44% 1.92% 0.62%
(1) Information is based on single-family mortgage portfolio excluding Structured Securities backed by Ginnie Mae Certificates.
(2) Credit losses consist of the aggregate amount of charge-offs, net of recoveries, and the amount of REO operations expense in each of the respective
periods.
(3) Our reported delinquency rates are based on the number of loans that are 90 days or more past due as well as those in the process of foreclosure, and
exclude loans whose contractual terms have been modified under agreement with the borrower, if the borrower is less than 90 days delinquent under the
modified terms.
161 Freddie Mac