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Fannie said delinquency and default rates were rising across its entire guaranty book, including on holdings that are considered less risky, as mortgage borrowers with better credit and more means are pinched by the recession.
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The lender said delinquencies on prime loans rose to 6.85percentt from 3.83percentt in last year's first quarter.
Shares of another lender, IndyMac Bancorp, tumbled after the company said delinquencies and foreclosures increased in January.
The company also said delinquencies as a percentage of unpaid principal balances reached 5.85percentt, up from 4.04percentt in September 2006.
The largest issuer of such cards, General Electric, said delinquencies and charge-offs were lower in the second quarter of 2010 than in the previous quarter and year.
Countrywide Credit Industries, the No. 1 nonbank mortgage lender, said delinquencies in its mortgage portfolio grew to 5percentt in October, up from 4.40percentt in the same month last year.
More bad news came from the bond insurer MBIA, which said delinquencies were rising among some subprime home loans serviced by the Countrywide Financial Corporation, the largest United States mortgage lender.
1246, 1247; 12 U.S.C. 1702-1706), and making investigations and rendering reports respecting the said delinquencies as may be directed from time to time by the Administrator, shall promptly forward remittances in the form collected to the Commissioner of the Federal Housing Administration, except, that remittances received in cash should be forwarded in the form of money order or check.
When JPMorgan Chase (nyse: JPM - news - people) reported Wednesday, it too said delinquencies are beginning to ease.
He said delinquencies are often low in the first three months of the year and show a pattern of inching up by about 0.2percentto0.5percentcent by the end of the second quarter.
Wendt says delinquencies will continue to fall.
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