The reverse mortgage portfolio of Fannie Mae grew from $41.6 billion as of December 31, 2008 to $49.8 billion as of September 30, 2009 according to its 3Q SEC filing.
The GSE estimates its market share of the total market of reverse mortgage loans outstanding was approximately 90% as of December 31, 2008.
According to the filing, changes in pricing strategy and market conditions have lead its market share of HECM acquisitions to fall to 20% during the 3Q and to 10% in September 2009. Ginnie Mae has picked up the slack for FNMA, issuing $5.1 billion of HMBS in FY 2009.
FNMA posted a net loss of $19.8bn, or $3.47 per share, in Q309, compared with a net loss of $15.2bn in Q209.
