Fannie Mae Delinquency Rate Up Over 300%

Flopping Aces ^ | 10-31-09 | Curt

[Starman417]

Oh boy: (h/t Doug Ross)

The [Fannie Mae] "seriously delinquent" rate has gone parabolic, increasing by roughly 5% sequentially and just under 300% YoY [year-over-year]. As mere text will simply not do this metric justice, please enjoy this chart of the dataset from Blytic. It tells you all you need to know about the Fed's containment of the housing problem.

The August seriously delinquent single-family number comprised of a 2.87% non-credit enhanced delinquencies and a very bothersome 11.52%, consisting of credit enhanced loans

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The deterioration of FNM's book however did not stop it from increasing the size of its book [loans]. In September Fannie's total book of business hit $3.242 trillion, up from $3.229 trillion in August and $3.079 trillion in the prior year

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This trend should bother you, dear taxpayer, because it is your money on the hook here, which is not only massively mismanaged by Bernanke & Co., LLC, but which sees another $80 billion of free funding every month courtesy of the dollar printing press to onboard even more toxic garbage onto your balance sheet.

And who is paying the price?

[cripplecreek]

I used to like roller coasters.

[darkwing104]

Hope and Change...

[DonaldC]

This is not going to get any better until the screwing of business and achievers stops.

[DCPatriot]

These numbers are bogus in a sense that many of these foreclosures were held back in their pipelines on purpose.

After all, there was an election and all......

[jwalsh07]

Find two analysts who said the default rate was going to be 350%. Then you can hear from CNBC that the market rises on better than expected news Monday.

[Ernest_at_the_Beach]

CNBC is starting to have some obvious spin problems....

[Ernest_at_the_Beach]

Man,,,,that is scary....

[WashingtonSource]

bump

[Two Kids' Dad]

Looks like I got back into the foreclosure processing business at just the right time. No wonder my boss is practically begging me to switch from part-time to full-time.

Things are going to get a lot bumpier folks. Hold tight and do everything you can to be as self-reliant as possible with an eye for a 4-to-6 year skid (my estimate) before there’s a chance at any real recovery. Don’t trust the DOW or any other stock ticker to be an indicator of the economy. Look at the national debt and deficit, look at the massive amounts of bond sales and their interest rates, look at our country’s unfunded liabilities. Multiply it by the unemployment (and underemployment) numbers and you’ll see a bleak picture for the near-term future of our country.

[Two Kids' Dad]

And new legislation has stalled some foreclosures, too. The administration will point to these lulls as a positive sign when they know it's simply one of their ploys to delay the inevitable.

[LuvFreeRepublic]

That chart just makes me sick.

Does anyone know if there are similar charts or if there is data that shows defaults per region or geographical area???

[When do we get liberated?]

Be happy! You actually got a job Obama created! Or was it saved....?

[HighlyOpinionated]

It’s Bwany Fwanks Fault. And Maxine Waters, too.

[driftless2]

So what could be wrong with the FMs guaranteeing millions of shaky loans? (smirk) Seriously, the story of the total damage done during the late nineties and early two thousands by the FMs has never been aired as much as it should have been. We know why (the Big Lib Media), but conservative pols and media types need to raise a clamor about the FMs screwing things up again.