The percentage of delinquent mortgages held by Fannie Mae and Freddie Mac ended 2011 below levels seen a year earlier.
The 30-plus-days delinquency rate on single-family homes on Fannie Mae’s book fell 0.09 points to 3.91% in December from the previous month after holding steady at 4% for three months, according to its monthly summary. The rate has either fallen or remained constant every month since December 2010 when the single-family delinquency rate was 4.48%
The multifamily serious delinquency fate fell 0.01 point to 0.59% in December from the previous month. The monthly drop was the first in three months. In December 2010, the multifamily delinquency rate stood 0.71%.
Freddie’s 90-day single-family delinquency rate held on its books rose to 3.58% in December from 3.57% in the previous month. Since a year earlier, it has fallen from 3.84%. Its multifamily delinquency rate fell to 0.22% in December from 0.28% in the previous month. The rate was 0.26% a year earlier.
Fannie completed 18,355 loan modifications in December, for a total of 213,340 loan modifications in the year ended Dec. 31.
Freddie completed 5,591 loan modifications in the month and 109,174 for the full year.
The author of this article is: Justin T. Hilley
See the original post at: http://www.housingwire.com/article/fannie-mae-freddi-mac-mortgage-delinquencies-continue-shrink-2
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