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 (OTCQB:FNMA) serious delinquency had been rising for more than 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 for larger ultra-dynamic and surf-able 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.