Federal National Mortgage Association · OTC:FNMA
Federal National Mortgage Association — Federal National Mortgage Association Fannie MAE — Q3 2008 Earnings Presentation
15 slides from Federal National Mortgage Association's earnings presentation, Nov 10, 2008
Slide 1: Fannie Mae 2008 Q3 10-Q Credit Supplement
November 10, 2008 Fannie Mae 2008 Q3 10-Q Credit Supplement
Slide 2: These materials present tables and other information about Fannie Mae, including information contained in
These materials present tables and other information about Fannie Mae, including information contained in Fannie Mae's Quarterly Report on Form 10-Q for the quarter ended September 30, 2008, or 2008 Q3 Form 10-Q. Some of the terms used in these materials are defined and discussed more fully in the 2
Slide 3: Table of Contents
Table of Contents Slide Home Price Growth Rates in the U.S. 3 Home Price Growth 2006 Q2 - 2008 Q3 and Percentage of Fannie Mae's Single-Family Conventional Mortgage Credit 4 Book of Business Fannie Mae Credit Profile by Key Product Features 5 Fannie Mae Credit Profile by Vintage and Key Product 6 Fe
Slide 4: Home Price Growth Rates in the U.S.
Home Price Growth Rates in the U.S. Growth rates are from period-end to period-end. We expect 2008 home price declines to be in the upper end of our estimated 7% to 9% range. We expect peak-to-trough declines in home prices to be in the upper end of our estimated 15% to 19% range. Note: Using the S&
Slide 5: Home Price Growth 2006 Q2 - 2008 Q3 and Percentage of Fannie Mae's Single-Family Conventional Mortgage Credit
Home Price Growth 2006 Q2 - 2008 Q3 and Percentage of Fannie Mae's Single-Family Conventional Mortgage Credit Book of Business Source: Fannie Mae. Based on available data as of September 30, 2008. Including subsequent data may produce different results. - - State/Region Growth Rate % - - % of Single
Slide 6: Fannie Mae Credit Profile by Key Product Features
Fannie Mae Credit Profile by Key Product Features Note: Categories are not mutually exclusive; numbers are not additive across columns. Credit Characteristics of Single-Family Conventional Mortgage Credit Book of Business * Excludes non-Fannie Mae securities held in portfolio and Alt-A and subprime
Slide 7: Fannie Mae Credit Profile by Vintage and Key Product Features
Fannie Mae Credit Profile by Vintage and Key Product Features Credit Characteristics of Single-Family Conventional Mortgage Credit Book of Business by Vintage * Excludes non-Fannie Mae securities held in portfolio and Alt-A and subprime wraps, for which Fannie Mae does not have loan-level informatio
Slide 8: Cumulative Default Rates by Vintage, Originations 2000 through 2008 Q3
Data as of September 30, 2008 is not necessarily indicative of the ultimate performance and are likely to change, perhaps materially, in future periods. Consistent with industry trends, 2006 and 2007 vintages performing poorly. Defaults for the 2008 vintage through 2008 Q2 have been negligible. Note
Slide 9: Fannie Mae Credit Profile by State
Fannie Mae Credit Profile by State Credit Characteristics of Single-Family Conventional Mortgage Credit Book of Business by State * Excludes non-Fannie Mae securities held in portfolio and Alt-A and subprime wraps, for which Fannie Mae does not have loan-level information. Fannie Mae has access to d
Slide 10: Single-Family Serious Delinquency Rates by State and Region
Single-Family Serious Delinquency Rates by State and Region
Slide 11: Home Price Growth/Decline and Fannie Mae Real Estate Owned (REO) in Key States
Home Price Growth/Decline and Fannie Mae Real Estate Owned (REO) in Key States On a national basis, REO net sales prices compared with unpaid principal balances of mortgage loans have decreased as follows, driving increases in loss severities. 93% in 2005 89% in 2006 78% in 2007 74% in 2008 Q1 74% i
Slide 12: Fannie Mae Alt-A Credit Profile by Key Product Features
Fannie Mae Alt-A Credit Profile by Key Product Features Credit Characteristics of Single-Family Mortgage Credit Book of Business by Vintage * Excludes non-Fannie Mae securities held in portfolio and Alt-A and subprime wraps, for which Fannie Mae does not have loan-level information. Fannie Mae has a
Slide 13: Fannie Mae Alt-A Loans Versus Loans Underlying Private-Label Alt-A Securities
Fannie Mae Alt-A Loans Versus Loans Underlying Private-Label Alt-A Securities Private-label securities data source are from First American CoreLogic, LoanPerformance data, which estimates it captures 97 percent of Alt-A private- label securities. The private-label securities data include some loans
Slide 14: Workouts by Type
Workouts by Type Modifications involve adding past due interest amounts to the loan principal amount and recovering them over the remaining life of the loan or through an extension of the term, and other loan adjustments. HomeSaver Advance involves providing unsecured, personal loans to help borrowe
Slide 15: Nonperforming Single-Family and Multifamily Assets
Nonperforming Single-Family and Multifamily Assets
Federal National Mortgage Association Fannie MAE — Q3 2008 Earnings Presentation on 6ix