The percentage of loans 90 or more days past due held by the nation's largest mortgage company has declined for three months in a row. According to a new monthly summary report released by Fannie Mae on Friday, the GSE's single-family serious delinquency rate dropped 15 basis points to 5.15 percent in May. That follows a decline of 17 basis points in April and 12 basis points in March. The March reading was the first time Fannie’s delinquency rate had dropped since March 2007, when it was a mere 0.62 percent.
SUNIL SETHI REAL ESTATE
Sunil Sethi / Broker, President, REALTOR, MBA / SUNIL SETHI REAL ESTATE
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