Economy Watch: GSE Delinquencies Continue to Drop

December 3, 2013
Multi-Housing News  
mortgage lending news

The government-sponsored enterprises Fannie Mae and Freddie Mac recently reported declines in the serious delinquency rate for single-family mortgages.

Fannie Mae's single-family serious delinquency rate fell to 2.48 percent in October, down from 2.55 percent in September and 3.35 percent in October 2012, marking its lowest level since December 2008.

Freddie Mac's rate, meanwhile, slipped to 2.48 percent from 2.58 percent in September and 3.31 percent in October 2012, marking its lowest level since March 2009.

Serious delinquencies -- which occur when mortgages are three or more months past due or in foreclosure -- could reach a more "normal" rate of 1 percent by early 2016, if the current rate of decline is maintained.










Abstract News © Copyright 2008-2013 INFORMATION, INC.
Powered by Information, Inc.

Stay Updated

Join the fight against predatory lending. Enter your e-mail to sign up for breaking news, action alerts, and CRL's original research.

   Please leave this field empty
  

Help Us End Predatory Lending

Predatory lending destroys family wealth, and preys on our most vulnerable communities. You can help us end abusive lending practices by donating to CRL, or by sharing our work with others.



`