| Table 14. Default Rates
and Net Loss Rates FY 2003 to FY 2008 |
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FY 2003 |
FY 2004 |
FY 2005 |
FY 2006 |
FY 2007 |
FY 2008 |
| Number of Outstanding
Loans |
1315 |
1919 |
1764 |
2,727 |
2,915 |
2,861 |
| Total Dollar Amount of
Outstanding Loans |
$11,234,509 |
16,232,616 |
$13,422,952 |
$22,570,390 |
26,044,939 |
$25,271,941 |
| Number of Defaulted
Loans |
39 |
80 |
51 |
143 |
164 |
174 |
| Dollar Amount of
Defaulted Loans |
$272,192 |
$229,754 |
$249,595 |
$801,682 |
$859,877 |
$1,175,182 |
| Default Rate |
2.42% |
1.42% |
1.86% |
3.55% |
3.30% |
4.65% |
| Dollare Amount of Net
Losses |
$265,459 |
$197,481 |
$254,279 |
$658,117 |
$779,842 |
$838,797 |
| Net Loss Rate |
2.36% |
1.22% |
1.89% |
2.92% |
2.99% |
3.32% |
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| Source:
AFP Outcomes Database and Management System, downloaded November 19, 2008 |
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| Data Notes: |
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| Total Dollar
Amount Of Outstanding Loans is the total amount of
loans still outstanding (principal not paid in full), as of September 30 of the fiscal year. |
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total includes loans that were provided or supported by the AFP (direct and
guaranteed) but does not include interest rate buy-down loans |
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non-guaranteed loans provided solely by the lending institutions. |
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| Number of
Defaulted Loans is the total number of loans defaulted
(90 days past due) as of September 30 of the fiscal year. |
| Dollar Amount
of Defaulted Loans is the total dollar of the loans
defaulted (90 days past due), as of September 30 of the fiscal year. |
| Default Rate is the Dollar Amount of Defaulted Loans divided by the Total
Dollar Amount of Outstanding Loans and expressed as a percentage. |
| Dollar Amount
of Net Losses is equal to the total dollar amount lost
on direct loans and guaranteed loan payouts minus recoveries from collateral |
| as of September 30 of
the fiscal year. |
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| Net Loss Rate is the dollar amount of net losses divided by the total
dollar amount of outstanding loans, expressed as a percentage. |
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