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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.

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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.

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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.

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