Fannie Mae Delinquency Rate Up Over 300% (Welcome to Obama Hope and Change)
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 ~~~
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?
(Excerpt) Read more at floppingaces.net
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Comments
The sad part is the fact that these rich CEO’s and executives who work for these banks take that free, printed, and borrowed money and they spend it on things of actual value. Like land, gold, stocks, property both in and out of the United States. They rob the taxpayers and use the money which is essentially worth nothing to line their pockets. This is money that future generations will have to pay for, that’s if the United States economy doesn’t completely go bankrupt and collapse within the next 20 years.
The sad part is the fact that these rich CEO’s and executives who work for these banks take that free, printed, and borrowed money and they spend it on things of actual value. Like land, gold, stocks, property both in and out of the United States. They rob the taxpayers and use the money which is essentially worth nothing to line their pockets. This is money that future generations will have to pay for, that’s if the United States economy doesn’t completely go bankrupt and collapse within the next 20 years.