As shown below, the states with the largest percentage of mortgage loans backing the Non-Agency RMBS securities are California, Florida, New York, Texas, and New Jersey. These percentages may change slightly over time as defaults, foreclosures, and principal repayments, among other loan-level activity, will affect the outstanding balance of the Non-Agency RMBS.
The following information will be updated semi-annually. The next update will occur by April 2021.
![This pie chart shows the percentage of the NGN portfolio that falls under each state category for Q2 2020.](https://webarchive.library.unt.edu/web/20201218041112im_/https://www.ncua.gov/sites/default/files/inline-images/states-2020-Q2.jpg)