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    Freddie Mac reported a $354 million net loss in the first quarter, significantly down from its $2.2 billion net income recorded in the fourth quarter of 2015. The news is a reminder of the GSE's net loss in the third quarter of 2015, which marked the first loss in four years. But despite the news, Freddie CEO Donald Layton remains positive on the results. Click the headline to find out why.

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Fannie Mae: Single-family serious delinquency rate falls to 3.35% in October

The conventional single-family serious delinquency rate fell six basis points to 3.35% in October, compared to 3.41% in September and 4% from the previous year, according to Fannie Mae’s monthly summary.

The multifamily serious delinquency rate remained unchanged at 0.28% from last month, and was down from 0.58% last year.

Fannie Mae completed 14,511 loan modifications, totaling 138,211 over the past ten months.

In October, the government-sponsored enterprise’s gross mortgage portfolio declined at a compound annualized rate of 19.3%. 

The book of business remained essentially flat, declining at a compound annualized rate of 0.03%. Also, the effective duration gap of the GSEs' portfolio averaged zero months in October. 

The monthly report summary contains information about Fannie Mae’s monthly and year-to-date activities including mortgage-backed securities, interest-rate risk measures and serious delinquency rates. 

cmlynski@housingwire.com

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