Fannie Mae’s mortgage portfolio continued to shrink to a compound annualized rate of 18% in April, according to the government-sponsored enterprise’s monthly summary.

The GSE’s gross mortgage portfolio continues to drop, edging down a bit each month. 

The book of mortgage business increased at a compound annualized rate of 0.2% in April, up from 1.5% last month.

In addition, the conventional single-family serious delinquency rate declined 9 basis points to 2.93% in April.

The multifamily serious delinquency rate also fell three basis points to 0.36% in the latest report.

Fannie Mae completed 13,741 loan modifications in April, for a total of 56,894 loan mods in the first three months of the year.