Ex-NFL star sentenced to five years in prison for mortgage fraud

Ex-NFL star sentenced to five years in prison for mortgage fraud

Irving Fryar and his mother convicted of conspiring to steal $1.2M

Experian hacked: 15 million people’s credit data stolen in breach

Credit reporting agency becomes latest victim of data breach

Here's what today's job creation implosion means for housing and mortgage finance

Jobs crater, labor participation rate near 40-year low and zero wage growth

Fannie, Freddie and Ginnie Issuance Climbs in June

Government-sponsored mortgage investors Fannie Mae (FNM) and Freddie Mac (FRE) along with Ginnie Mae saw issuance increase in June along with rising delinquency rates. Fannie’s mortgage portfolio swelled by 18.1% in June and 5.4% from a year ago. Fannie securitized $33.2bn of whole loans held in the portfolio. Its total mortgage-related purchases and issuance grew to $792.61bn from $789.63bn in May, according to a monthly volume summary released last week. The delinquency rate among Fannie's conventional single-family mortgages jumped to 3.68% in May from 3.42% in April. The rate has increased every month since May 2008. Fannie’s brother GSE, Freddie, saw a 2.78% delinquency rate for single-family homes in June, up from 2.62% in May, according to its monthly survey released last week. Freddie’s purchases and issuances rebounded to $63.15bn in June after May’s slide to $50.22bn. Its refinance purchases jumped as well, to $50.9bn in June from $40.3bn in May. Ginnie Mae issued more than $43bn in mortgage-backed securities in June, climbing over the $40bn threshold for the first time in its 41-year history. For the first half of 2009, Ginnie pumped $207bn of liquidity into the secondary market, up from $107bn from the first half of 2008. Write to Jon Prior.

Recent Articles by Jon Prior

Comments powered by Disqus