Despite a decline in its mortgage portfolio, Fannie Mae's total book of business grew in September for the first time in 10 months, the company revealed Friday.
According to Fannie's monthly volume summary, the mortgage giant's book totaled $3.12 trillion as of September 30, representing an annualized growth rate of 1.5 percent compared to August's decline of 4.0 percent.
Year-to-date, the book's growth rate remains in the red at a compound rate of -1.8 percent.
September's bump in business came despite a 12.7 percent annualized contraction in Fannie's gross mortgage portfolio, which was valued at approximately $438.1 billion at the end of the month, down nearly $5 billion from August. The portfolio has been on a steady decline since the start of 2013.
Meanwhile, new business acquisitions improved, rising 21 percent from August to $45.6 billion, an 11-month high.
Delinquency was also healthier in September. According to Fannie, the conventional single-family serious delinquency rate in its portfolio was 1.96 percent, down 3 basis points from August. The multifamily delinquency rate held steady at 0.09 percent for the second month.
Fannie Mae completed 8,684 loan modifications in September. As of the end of the month, year-to-date modifications totaled 96,915 at the GSE.