The conventional single-family serious delinquency rate fell five basis points to 3.3% in November, down from 3.35% in October, according to Fannie Mae’s monthly summary.
The multifamily serious delinquency rate also fell three basis points to 0.25% in November, compared to 0.28% in October.
Fannie Mae completed 13,106 loan modifications, totaling 151,317 over the past 11 months. Last month, the government-sponsored enterprise completed 14,511 loan modifications.
In November, the GSE’s gross mortgage portfolio declined at a compound annualized rate of 17.5%.
The book of business increased at a compound annualized rate of 4%, up 0.03% from last month.
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.
