Fannie Mae: Mortgage delinquencies down in 2010

Serious mortgage delinquencies for single-family homes continue their slide from 2009 highs.

Mortgage delinquencies continued their slide in September, according to a new Fannie Mae report.

The latest release of the Fannie Mae Monthly Summary for October indicated that for data through September, total serious single family delinquency continued to decline.

Although this is a notable development particularly in light of the fact that Fannie Mae’s serious delinquency had been rising for over two years, more data is needed before any conclusions can be drawn as to the trend going forward.

In September, 3.45% of non-credit enhanced loans went seriously delinquent while the level was 10.66% of credit enhanced loans resulting in an overall total single family delinquency of 4.56%.

The following charts (click above for larger chart) show what Fannie Mae terms the count of “Seriously Delinquent” loans as a percentage of all loans on their books.

It’s important to understand that Fannie Mae does NOT segregate foreclosures from delinquent loans when reporting these numbers.

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