Fannie Mae’s mortgage portfolio continued to shrink, reaching a compound annualized rate of 18.4% in June, according to the government-sponsored enterprise’s monthly summary.
The GSE’s gross mortgage portfolio also dropped, shrinking a bit each month, down 18.4%.
The book of mortgage business decreased at an annualized rate of 1.9% in June.
In addition, the conventional single-family serious delinquency rate declined six basis points to 2.77%.
The multifamily serious delinquency rate also fell two basis points to 0.28% in the latest report.
Fannie Mae completed 12,967 loan modifications in June, for a total of 83,511 loan mods in the first six months of the year.