Home >> News >> Secondary Market >> Fannie Mae Reports Continued Drop in Business
Print This Post Print This Post

Fannie Mae Reports Continued Drop in Business

""Fannie Mae"":http://www.fanniemae.com/portal/index.html has released its September book of business, revealing further declines as new business acquisitions came to their lowest level in more than a year.


The mortgage behemoth's ""book of business"":http://www.fanniemae.com/resources/file/ir/pdf/monthly-summary/093113.pdf totaled $3.163 trillion as of the end of September, shrinking at a compound annual rate of 1.3 percent.


The book's average growth rate for the first nine months of 2013 was -1.1 percent.

Part of September's decline came from a contraction in Fannie Mae's gross mortgage portfolio, which shrank at an annual rate of 29.1 percent to rest at $516.3 billion. Through the nine months ending September, the portfolio's average monthly growth rate was -23.8 percent.

New business acquisitions totaled $56.0 billion, once again falling to the lowest level since April 2012. The decline mirrors trends in Freddie Mac's ""September volume summary"":https://themreport.com/articles/new-business-at-freddie-mac-falls-to-2013-low-2013-10-25, in which purchases and acquisitions were down to their lowest point in nearly a year and a half.

Fannie Mae's Conventional Single-Family Serious Delinquency Rate looked a little better than it did in August, falling to 2.55 percent. The Multifamily Serious Delinquency Rate was flat at 0.18 percent.

The company reported 11,676 loan modifications in September, for a total of 120,848 modifications in the nine months ending September 30.


Check Also

Growing the Role of Non-Bank Lenders

Regulators are considering allowing additional funds to expand the role of nonbanks like REITs as the nature of the big banks in mortgag lending shifts.

Subscribe to MDaily

MReport is here for you to stay on top of important developments in the mortgage marketplace. To begin receiving each day’s top news, market information, and breaking news updates, absolutely free of cost, simply enter your email address below.