Freddie Mac 2012 Annual Report Download - page 156

The table below presents credit concentrations for certain loan groups in our single-family credit guarantee portfolio.
Table 51 — Credit Concentrations in the Single-Family Credit Guarantee Portfolio
As of December 31, 2012
Alt-A
UPB
Non Alt-A
UPB Total UPB
Estimated
Current LTV
Ratio(1)
Percentage
Modified(2)
Serious
Delinquency
Rate
(dollars in billions)
Geographical distribution:
Arizona, California, Florida, and Nevada(3) ................... $ 30 $ 386 $ 416 82% 5.4% 5.0%
All other states ....................................... 44 1,178 1,222 73 2.9 2.8
Year of origination:
2012 ............................................... — 364 364 76 — 0.1
2011 ............................................... — 226 226 67 <0.1 0.3
2010 ............................................... — 237 237 68 0.1 0.5
2009 ............................................... <1 205 205 69 0.3 0.9
2008 ............................................... 6 73 79 88 7.4 6.8
2007 ............................................... 22 97 119 107 14.9 12.4
2006 ............................................... 20 69 89 104 13.4 11.4
2005 ............................................... 14 87 101 89 7.5 7.2
2004 and prior ........................................ 12 206 218 56 3.3 3.2
As of December 31, 2011
Alt-A
UPB
Non Alt-A
UPB Total UPB
Estimated
Current LTV
Ratio(1)
Percentage
Modified(2)
Serious
Delinquency
Rate
(dollars in billions)
Geographical distribution:
Arizona, California, Florida, and Nevada(3) ................... $ 38 $ 406 $ 444 93% 4.6% 6.2%
All other states ....................................... 56 1,246 1,302 75 2.5 2.9
Year of origination:
2011 ............................................... — 250 250 70 — 0.1
2010 ............................................... — 324 324 71 <0.1 0.3
2009 ............................................... <1 315 315 72 0.1 0.5
2008 ............................................... 7 113 120 92 4.4 5.7
2007 ............................................... 29 138 167 113 10.2 11.6
2006 ............................................... 25 99 124 112 9.3 10.8
2005 ............................................... 18 124 142 96 5.1 6.5
2004 and prior ........................................ 15 289 304 61 2.5 2.8
2012 2011
Alt-A Non Alt-A Total Alt-A Non Alt-A Total
(in millions) (in millions)
Credit Losses
Geographical distribution:
Arizona, California, Florida, and Nevada(3) ................... $1,816 $4,526 $6,342 $2,641 $5,081 $7,722
All other states ....................................... 886 4,397 5,283 1,050 4,209 5,259
Year of origination:
2012 ............................................... — 4 4 N/A N/A N/A
2011 ............................................... — 44 44 — 2 2
2010 ............................................... — 155 155 — 62 62
2009 ............................................... <1 219 219 <1 177 177
2008 ............................................... 97 949 1,046 102 903 1,005
2007 ............................................... 1,015 3,127 4,142 1,455 3,245 4,700
2006 ............................................... 952 2,009 2,961 1,314 2,328 3,642
2005 ............................................... 537 1,460 1,997 713 1,566 2,279
2004 and prior ........................................ 101 956 1,057 107 1,007 1,114
(1) See endnote (4) to “Table 41 — Characteristics of the Single-Family Credit Guarantee Portfolio” for information on our calculation of estimated current
LTV ratios.
(2) Represents the percentage of loans, based on loan count, in our single-family credit guarantee portfolio at period end that have been modified, including
those with no changes in interest rate or maturity date, but where past due amounts are added to the outstanding principal balance of the loan.
(3) Represents the four states with the largest cumulative declines in home prices since 2006 as measured using Freddie Mac’s home price index.
151 Freddie Mac