We'll see if the FHFA publishes their results. Single Family Delinquencies rose 1 BP in November from October, wonder if these programs had anything to do with it. Assuming that the Single Family Book of Biz is approximately $3.5T (out of a $4.2T total book which includes MF) a 1 basis point monthly increase is approximately $3.5B of Mortgage Unpaid Principal in new seriously delinquent loans or $40B per year.
•Fannie Mae's Guaranty Book of Business decreased at a compound annualized
rate of 0.4% in November.
•The Conventional Single-Family Serious Delinquency Rate increased by 1 basis
point to 0.54% in November.
•The Multifamily Serious Delinquency Rate increased 3 basis points to 0.47% in
November.
•As of November 30, 2023, Fannie Mae's maximum exposure to Freddie Mac
collateral that was included in outstanding Fannie Mae resecuritizations was
$216.9 billion.
IMPORTANT NOTE:
Fannie Mae has been under conservatorship, with the Federal Housing Finance
Agency (FHFA) acting as conservator, since September 6, 2008.
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