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Fannie Mae’s Mortgage Portfolio Returns to Contracting; Delinquency Rate Falls to 1.83 Percent

fanniemae

The single-family serious delinquency rate for Fannie Mae in February fell another three basis points down to 1.83 percent after dropping to a nine-year low of 1.86 percent in January. Fannie Mae's single-family serious delinquency rate has declined every quarter since the first quarter of 2010 due to a number of reasons that include foreclosure alternatives, home retention solutions, completed foreclosures, improved loan payment performance, and acquisitions of loans with stronger credit profiles.

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Consumer Sentiment Strong; Attitudes Positive Toward Wage Gains, Homebuying

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While consumers remained positive toward homebuying conditions in the latest survey, the reason for the positive outlook has shifted – prospective homebuyers are now dependent on low mortgage rates as opposed to low home prices. In Q1 2015 surveys, the percentage of consumers citing low home prices was at its lowest level since 2006, while the percentage of consumers who cited low mortgage rates was at a 10-year high.

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Report: GSEs’ HAMP Modifications Perform Better Than Non-HAMP Mods

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According to FHFA, nearly 1.1 million distressed homeowners have been offered a HAMP modification since April 2009, when Treasury and HUD started the program. Out of those, approximately 638,200 homeowners received permanent modifications. As of the end of the fourth quarter, about 7,700 homeowners were currently involved in a trial HAMP modification.

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