Fannie Mae single-family delinquency rate unchanged in July
The rate of seriously delinquent single-family mortgages in Fannie Mae's portfolio held steady at 4.08% in July, while the multifamily rate dropped one basis point to 0.45%. The government-sponsored enterprise completed 17,540 loan modifications in July, and has completed more than 118,000 loan mods on troubled mortgages this year. Fannie's gross mortgage portfolio rose 6.1% in July to $727.9 billion from the prior month and is down from $811.9 billion a year ago. When analyzing the mortgage portfolio, Fannie held $16.8 billion in agency mortgage securities last month and $78.1 billion in non-agency loans. That compares to $21 billion in agency and $85 billion in non-agency loans a year ago. The Treasury Department said earlier this year that the future mortgage finance space would move steadily away from GSE dominance. MountainView Servicing Group announced this week that it has been selected to help Fannie Mae sell a $485 million servicing portfolio that includes fixed-rate loans located in Illinois. The loans have a delinquency rate of roughly 2.21%. Write to: Kerri Panchuk.