Fannie Mae Portfolio Improved for Month of May

Fannie Mae’s book of business expanded in the month of May from the year ago period.

Fannie Mae’s book of business expanded at a compound annualized rate of 5.0% for the month of May to $3.150 trillion, up from $3.010 trillion one year ago.

The book of business represents the company’s gross mortgage portfolio and total mortgage-backed securities (MBS) after subtracting the MBS in Fannie Mae’s own mortgage portfolio.

The gross mortgage portfolio at the end of May was $789.6 billion, up from $737.0 billion one year ago.

The total Fannie Mae MBS and other guarantees was $2.711 trillion, up from $2.532 trillion one year earlier.

Fannie Mae’s own MBS in the portfolio was $351.2 billion at the end of the month, up from $259.6 billion last year.

New business acquisitions at the government-sponsored enterprise (GSE) stood at $72.6 billion, up from $69.3 billion at the end of May 2008.

Liquidations – the total amount of repayments, curtailments, payoffs, and foreclosures represented in the mortgage portfolio – stood at $11.8 billion at an annualized liquidation rate of 18.32% from $8.60 billion at a rate of 14.16% one year ago.

The effective duration gap for May, representing the daily average of the difference between the duration of Fannie Mae’s assets and liabilities, remained the same at a one-month average as it was during the year-ago period.

Reported with a lag of one month, the single-family serious delinquency rate for April climbed to 3.42% from 1.22% one year ago

Phil Ganz (354 Posts)

Philip D. Ganz is a Boston Mortgage Broker and Boston Home Loan specialist. For information, expertise, consulting, or advice about home loans, refinancing mortgages, or commercial property loans, contact Phil with no obligation: 617-529-9317

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