FHA Serious Delinquency Rates in Ginnie Mae’s 10 Largest State Portfolios
FHA Serious Delinquency Rates in Ginnie Mae’s 10 Largest State Portfolios
Illinois had the highest FHA serious delinquency rate among the 10 state portfolios shown in Ginnie Mae’s January 2026 Global Markets Analysis Report, at 5.9% in December 2025. Georgia ranked second at 5.4%, while Virginia had the lowest rate in this group at 3.8%.
Ginnie Mae defines serious delinquency as a loan that is 90 days or more past due or in the foreclosure process. The states shown are the state entries in Ginnie Mae’s table of top states and territories by number of loans within Ginnie Mae MBS. Higher delinquency rates rank higher.
Official federal source: Ginnie Mae. Coverage: 10 state observations. Unit: percent of FHA loans in serious delinquency. Data period: December 2025. All 10 state percentages are directly published values; no calculated rates, forecasts or modeled projections are used.
Illinois, December 2025.
Virginia, within the 10 state portfolios shown.
National serious delinquency rate reported in the same December 2025 table.
Report published by Ginnie Mae in January 2026.
What the ranking measures
The metric is the FHA serious delinquency rate for single-family loans in Ginnie Mae’s Table 13. A higher percentage means a larger share of the relevant FHA loan population was at least 90 days past due or already in the foreclosure process.
Conventional mortgages and other loan populations are outside this measure. The states in the table were selected by portfolio loan count, not because they had the highest delinquency rates nationwide.
Top 5 FHA serious delinquency rates
Illinois and Georgia were the only states in this group above 5%. Florida, Texas and Pennsylvania completed the five highest rates within the 10 state portfolios shown.
Top 5 within Ginnie Mae’s December 2025 state table
| Rank | Entity | Value | Region / Note |
|---|---|---|---|
| 1 | Illinois | 5.9% | United States; directly published value; Ginnie Mae Global Markets Analysis Report; published January 2026; target period December 2025. |
| 2 | Georgia | 5.4% | United States; directly published value; Ginnie Mae Global Markets Analysis Report; published January 2026; target period December 2025. |
| 3 | Florida | 4.7% | United States; directly published value; Ginnie Mae Global Markets Analysis Report; published January 2026; target period December 2025. |
| 4 | Texas | 4.6% | United States; directly published value; Ginnie Mae Global Markets Analysis Report; published January 2026; target period December 2025. |
| 5 | Pennsylvania | 4.5% | United States; directly published value; Ginnie Mae Global Markets Analysis Report; published January 2026; target period December 2025. |
The full 10-state ranking appears below.
Chart: FHA serious delinquency rates
The bars use the same December 2025 percentages as the full ranking. Illinois had the highest rate at 5.9%, while Virginia had the lowest rate among the 10 state portfolios at 3.8%.
Methodology
The ranking uses Table 13 of Ginnie Mae’s January 2026 Global Markets Analysis Report. The observations refer to December 2025. Ginnie Mae defines serious delinquency as 90 days or more past due or in the foreclosure process.
Metric and unit
Metric: FHA serious delinquency rate for single-family loans. Unit: percent. Higher values rank higher.
Coverage
The source table covers top states and territories by number of loans within Ginnie Mae MBS. The December 2025 table contains 10 state entries used in this ranking.
How the values are used
The percentages are reproduced directly from Ginnie Mae and sorted from highest to lowest. No state percentage is calculated, forecast or projected.
Ties and precision
Values remain at the source’s one-decimal precision. Arizona and North Carolina are both 4.0%, so both receive rank 7 and the next position is rank 9.
Missing values and conflicts
Missing values: none among the 10 state entries used here. No figures from another mortgage dataset are substituted or averaged.
What the metric does not measure
It is not an all-mortgage delinquency rate, foreclosure inventory rate, household financial-stress index, home-price measure or conventional-mortgage delinquency rate.
Ginnie Mae’s measure explicitly includes loans in the foreclosure process. It should not be treated as interchangeable with a 90-day delinquency dataset that excludes mortgages already in foreclosure or covers a different mortgage population.
Full ranking: all 10 state portfolios
Illinois ranked first at 5.9%, followed by Georgia at 5.4%. The national FHA serious delinquency rate reported in the same table was 4.2%; it is shown here as context and is not included as a ranked state.
FHA serious delinquency rates, December 2025
| Rank | Entity | Value | Region / Note |
|---|---|---|---|
| 1 | Illinois | 5.9% | United States; directly published value; Ginnie Mae Global Markets Analysis Report; published January 2026; target period December 2025. |
| 2 | Georgia | 5.4% | United States; directly published value; Ginnie Mae Global Markets Analysis Report; published January 2026; target period December 2025. |
| 3 | Florida | 4.7% | United States; directly published value; Ginnie Mae Global Markets Analysis Report; published January 2026; target period December 2025. |
| 4 | Texas | 4.6% | United States; directly published value; Ginnie Mae Global Markets Analysis Report; published January 2026; target period December 2025. |
| 5 | Pennsylvania | 4.5% | United States; directly published value; Ginnie Mae Global Markets Analysis Report; published January 2026; target period December 2025. |
| 6 | Ohio | 4.3% | United States; directly published value; Ginnie Mae Global Markets Analysis Report; published January 2026; target period December 2025. |
| =7 | Arizona | 4.0% | United States; directly published value; Ginnie Mae Global Markets Analysis Report; published January 2026; target period December 2025; tied at published precision. |
| =7 | North Carolina | 4.0% | United States; directly published value; Ginnie Mae Global Markets Analysis Report; published January 2026; target period December 2025; tied at published precision. |
| 9 | California | 3.9% | United States; directly published value; Ginnie Mae Global Markets Analysis Report; published January 2026; target period December 2025. |
| 10 | Virginia | 3.8% | United States; directly published value; Ginnie Mae Global Markets Analysis Report; published January 2026; target period December 2025. |
Insights from the December 2025 data
Key Insight
Illinois was highest at 5.9%, 1.7 percentage points above the 4.2% national FHA reference reported in the same table.
Notable Pattern
Five states were at or above 4.5%: Illinois, Georgia, Florida, Texas and Pennsylvania.
Regional/Source Concentration
All ranked values come from one Ginnie Mae table, and the states were selected by portfolio loan count rather than delinquency rate.
Outlier
Illinois stood 0.5 percentage points above Georgia and 2.1 points above Virginia, the widest top-to-bottom gap in the group.
What the ranking means
The ranking compares FHA mortgage performance across large Ginnie Mae state portfolios at one fixed point in time. A higher percentage means a larger share of the relevant FHA loan population met Ginnie Mae’s serious-delinquency definition.
It should not be interpreted as the percentage of homeowners, households or all mortgages in a state experiencing financial distress. Comparisons with other delinquency datasets require matching both the mortgage population and the treatment of foreclosure.
FAQ
What does Ginnie Mae mean by serious delinquency?
For this report, serious delinquency means a loan that is 90 days or more past due or in the foreclosure process.
Which state had the highest FHA serious delinquency rate?
Illinois had the highest rate among the 10 state portfolios shown for December 2025, at 5.9%.
Is this a ranking of all 50 U.S. states?
No. It ranks the 10 state entries appearing in Ginnie Mae’s table of top states and territories by number of loans within Ginnie Mae MBS.
Does Ginnie Mae’s serious delinquency rate include foreclosure?
Yes. The definition used in the report includes loans 90 days or more past due or in the foreclosure process.
Are these January 2026 delinquency rates?
No. The report was published in January 2026, but the mortgage performance observations used here refer to December 2025.
Why do Arizona and North Carolina share rank 7?
Both are reported at 4.0%. The ranking preserves the source precision rather than assuming additional decimal places.
Sources
Ginnie Mae — Global Markets Analysis Report, January 2026
Primary source for all ranked values, the December 2025 national FHA reference, coverage and the serious-delinquency definition. Table 13 reports FHA and VA serious delinquency rates for top states and territories by number of loans within Ginnie Mae MBS. This ranking uses the FHA state values only.
https://www.ginniemae.gov/data_and_reports/reporting/Documents/global_market_analysis_jan26.pdf
