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.