Altos: Critics wrong about housing, it’s going to soar

Altos: Critics wrong about housing, it’s going to soar

2015 will see notable price appreciation

The real reason Fannie and Freddie don't do principal modifications

Looking out for your retirement

Blackstone adviser: Investors worried about ‘serious correction’

Byron Wien still holds his line
W S

Fannie Mae unwind slows down

/ Print / Reprints /
| Share More
/ Text Size+
Mortgage securitization business at Fannie Mae got a little smaller in June, according to the monthly survey from the government-sponsored enterprise, but the rate at which Fannie Mae business contracts is slowing down. Fannie Mae’s gross mortgage portfolio declined at a compound annualized rate of 9.4% in June. Under Dodd-Frank financial reform, both Fannie Mae and Freddie Mac are required to unwind operations, though the speed at which this happens is a variable. For example, the new numbers show that the unwind is slowing down. Fannie Mae said its gross mortgage portfolio fell at a much-faster compound annualized rate of 15.2% in February, while the government-sponsored enterprise's entire book of business fell 0.7%. Fannie Mae's total book of business lessened at a compound annualized rate of 1% June. Year-on-year, Fannie Mae mortgage-backed securities portfolio declined by a little more than $50 million to $231 million, compared to $282 million in June 2010. Fannie Mae mortgage servicers completed 17,246 loan modifications in June, for a total of 101,379 loan modifications in the six months ended June 30, 2011. Write to Jacob Gaffney. Follow him on Twitter @jacobgaffney.

Recent Articles by Jacob Gaffney

Comments powered by Disqus