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Fannie Mae’s gross mortgage portfolio has decreased for the second consecutive month at a compound annualized rate of 17.4 percent in April, according to Fannie Mae’s April 2015 Monthly Volume Summary, released today.
The monthly summary report contains information about Fannie Mae's monthly and year-to-date activities for our gross mortgage portfolio, mortgage-backed securities and other guarantees, interest rate risk measures, serious delinquency rates, and loan modifications.
The GSE’s book of business decreased in April, dropping at a compound annualized rate of 2.1 percent, from $3.13 trillion in April 2014 to $3.11 trillion in April 2015, according to the summary. The book of business has only seen one positive compounded growth rate increase of 0.4 percent this year in March.
The gross mortgage portfolio saw nothing but decreases from April 2014 to April 2015, the summary said. The portfolio was at approximately $4.73 billion in 2014 and is now at $4.16 billion for April.
The serious delinquency rate on loans declined 3.9 percent, the lowest level since May 2008 , and a huge drop from the peak of 8.6 percent in 2010, according to CoreLogic’s March 2015 National Foreclosure Report.
“Despite the decline in the number of loans that are 90 days or more delinquent or in foreclosure, the percent of homeowners struggling to keep up is still well above the pre-recession average of 1.5 percent,” said Frank Nothaft, chief economist at CoreLogic.
MBS and other guarantees totaled up to be about 2.81 trillion for April, a slight increase from March’s rate of 2.80 trillion, Fannie Mae reported. The conventional single-family serious delinquency rate fell five basis points to 1.73 percent in April, and the effective duration gap on thier portfolio averaged zero months in April.
The GSE was able to complete 9,279 loan modifications in April for a total of 35,979 loan modifications in the first four months of this year, the GSE reported.
View the full report: FannieMae.com
