XML 60 R31.htm IDEA: XBRL DOCUMENT v3.23.1
Concentrations of Credit Risk (Tables)
 3 Months Ended
Mar. 31, 2023
Single-family  
Concentration Risk [Line Items]  
Schedule of Delinquency Status Guaranty Book of Business
The following tables display the delinquency status and serious delinquency rates for specified loan categories of our single-family conventional guaranty book of business.
As of
March 31, 2023
December 31, 2022
30 Days Delinquent60 Days Delinquent
Seriously Delinquent(1)
30 Days Delinquent60 Days Delinquent
Seriously Delinquent(1)
Percentage of single-family conventional guaranty book of business based on UPB0.65 %0.17 %0.55 %0.84 %0.20 %0.60 %
Percentage of single-family conventional loans based on loan count0.74 0.19 0.59 0.96 0.23 0.65 
Schedule of Risk Characteristics Guaranty Book of Business
As of
March 31, 2023
December 31, 2022
Percentage of
Single-Family
Conventional
Guaranty Book of Business
Based on UPB
Serious Delinquency Rate(1)
Percentage of
Single-Family
Conventional
Guaranty Book of Business
Based on UPB
Serious Delinquency Rate(1)
Estimated mark-to-market LTV ratio:
80.01% to 90%6 %0.68 %5 %0.68 %
90.01% to 100%3 0.53 3 0.40 
Greater than 100%*1.67 *4.04 
Geographical distribution:
California19 0.43 19 0.46 
Florida6 0.81 6 0.90 
Illinois3 0.79 3 0.86 
New Jersey3 0.76 3 0.85 
New York5 1.02 5 1.12 
All other states64 0.55 64 0.62 
Vintages:
2008 and prior2 2.62 2 2.78 
2009-202398 0.48 98 0.53 
*    Represents less than 0.5% of single-family conventional guaranty book of business.
(1)Based on loan count, consists of single-family conventional loans that were 90 days or more past due or in the foreclosure process as of March 31, 2023 or December 31, 2022.
Schedule of Risk in Force Mortgage Insurance Coverage
The following table displays our total mortgage insurance risk in force by primary and pool insurance, as well as the total risk-in-force mortgage insurance coverage as a percentage of the single-family conventional guaranty book of business.
As of
March 31, 2023December 31, 2022
Risk in ForcePercentage of Single-Family Conventional Guaranty Book of BusinessRisk in ForcePercentage of Single-Family Conventional Guaranty Book of Business
(Dollars in millions)
Mortgage insurance risk in force:
Primary mortgage insurance$194,232 $193,549 
Pool mortgage insurance236 237 
Total mortgage insurance risk in force$194,468 5%$193,786 5%
Schedule of Risk in Force Mortgage Insurance Coverage, by Counterparty
The table below displays our mortgage insurer counterparties that provided approximately 10% or more of the risk-in-force mortgage insurance coverage on mortgage loans in our single-family conventional guaranty book of business.
Percentage of Risk-in-Force
Coverage by Mortgage Insurer
As of
March 31, 2023December 31, 2022
Counterparty:(1)
Mortgage Guaranty Insurance Corp.19 %19 %
Arch Capital Group Ltd.18 18 
Radian Guaranty, Inc.17 17 
Enact Mortgage Insurance Corp.17 17 
Essent Guaranty, Inc.16 16 
National Mortgage Insurance Corp.12 12 
Others1 1 
Total100 %100 %
(1)Insurance coverage amounts provided for each counterparty may include coverage provided by affiliates and subsidiaries of the counterparty.
Schedules of Concentration of Risk, by Risk Factor The table below displays the percentage of our single-family guaranty book of business serviced by our top five depository single-family mortgage servicers and top five non-depository single-family mortgage servicers (i.e., servicers that are not insured depository institutions) based on unpaid principal balance. There were no servicers that serviced 10% or more of our single-family guaranty book of business as of March 31, 2023 or December 31, 2022.
Percentage of Single-Family
Guaranty Book of Business
As of
March 31, 2023December 31, 2022
Top five depository servicers23 %22 %
Top five non-depository servicers23 23 
Total46 %45 %
Multifamily  
Concentration Risk [Line Items]  
Schedule of Delinquency Status Guaranty Book of Business
The following tables display the delinquency status and serious delinquency rates for specified loan categories of our multifamily guaranty book of business.
As of
March 31, 2023(1)
December 31, 2022(1)
30 Days Delinquent
Seriously Delinquent(2)
30 Days Delinquent
Seriously Delinquent(2)
Percentage of multifamily guaranty book of business0.06 %0.35 %0.04 %0.24 %
Calculated based on the aggregate unpaid principal balance of multifamily loans for each category divided by the aggregate unpaid principal balance of loans in our multifamily guaranty book of business.(2)Consists of multifamily loans that were 60 days or more past due as of the dates indicated.
Schedule of Risk Characteristics Guaranty Book of Business
As of
March 31, 2023December 31, 2022
Percentage of Multifamily Guaranty Book of Business(1)
Serious Delinquency Rate(2)(3)
Percentage of Multifamily Guaranty Book of Business(1)
Serious Delinquency Rate(2)(3)
Original LTV ratio:
Greater than 80%1 %0.22 %1 %0.85 %
Less than or equal to 80%99 0.35 99 0.24 
Current DSCR below 1.0(4)
3 7.89 3 3.88 
(1)Calculated based on the aggregate unpaid principal balance of multifamily loans for each category divided by the aggregate unpaid principal balance of loans in our multifamily guaranty book of business.
(2)Consists of multifamily loans that were 60 days or more past due as of the dates indicated.
(3)Calculated based on the unpaid principal balance of multifamily loans that were seriously delinquent divided by the aggregate unpaid principal balance of multifamily loans for each category included in our multifamily guaranty book of business.
(4)Our estimates of current DSCRs are based on the latest available income information covering a 12 month period, from quarterly and annual statements for these properties including the related debt service.
Schedules of Concentration of Risk, by Risk Factor
The table below displays the percentage of our multifamily guaranty book of business serviced by our top five multifamily mortgage servicers, and identifies two servicers that serviced 10% or more of our multifamily guaranty book of business based on unpaid principal balance.
Percentage of Multifamily
Guaranty Book of Business
As of
March 31, 2023December 31, 2022
Walker & Dunlop, Inc.13 %13 %
Wells Fargo Bank, N.A. (together with its affiliates) 11 11 
Remaining top five servicers24 24 
Total48 %48 %