Fannie Mae‘s total book of business contracted at a compound rate of 10.9% to $3.22trn in June. Fannie’s book of business include about $19bn of loans purchased from mortgage-backed security (MBS) trusts in June that won’t be reflected as liquidated from MBS until July. Excluding these repurchases, the total book of business would have grown at a compound annualized rate of 0.3% in June. Within the company’s mortgage portfolio, Fannie added $27.6bn in purchases and recorded $6.2bn in sales and $17.2bn in liquidations. Due largely to the $19bn of buybacks, Fannie’s mortgage portfolio grew at a compound rate of 6.3% in June. The June growth arrives after Fannie’s mortgage portfolio passed $813bn in May, climbing $24bn from April. The conventional single-family serious delinquency rate fell 15 basis points (bps) to 5.15% in May, the latest month of delinquency data. A year ago, the delinquency rate was 3.68%. The multifamily serious delinquency rate slipped 2 bps to 0.76% in May but is up 26 bps over 0.5% at the same time last year. Write to Diana Golobay. Disclosure: the author holds no relevant investments.
Fannie Mortgage Portfolio Grows 6% on $19bn of Repurchases
Most Popular Articles
Latest Articles
Ginnie Mae denies majority of complaint in Texas Capital Bank lawsuit
Ginnie Mae admits only to core facts of the case, denying all allegations, “inferences, arguments, and legal conclusions” in the complaint.