Fannie Mae reported that the serious delinquency rate decreased to 4.27% in March from 4.44% in February. This is down from 5.47% in March 2010. The Fannie Mae serious delinquency rate peaked in February 2010 at 5.59%.



Freddie Mac reported that the serious delinquency rate decreased to 3.57% in April from 3.63% in March. (Note: Fannie reports a month behind Freddie). This is down from 4.06% in March 2010. Freddie's serious delinquency rate also peaked in February 2010 at 4.20%.



These are loans that are "three monthly payments or more past due or in foreclosure".



Click on graph for larger image in graph gallery.



Some of the rapid increase in 2009 was probably because of foreclosure moratoriums, and also because loans in trial mods were considered delinquent until the modifications were made permanent.



Now the serious delinquency rate is falling as Fannie and Freddie work through the backlog of loans and either modify the loan, foreclose, short sale, or the loan cures. The serious delinquency rate is still very high ... but at least it is declining.