Fannie and Freddie Portfolios, Delinquencies Rise

April 25, 2008 No Comments »


Mortgage financiers Fannie Mae and Freddie Mac said separately Friday that their mortgage portfolios rose in March as delinquencies inched higher.

McLean, Virginia-based Freddie Mac saw its total mortgage portfolio increase at an annualized rate of 8.9 percent year-to-date and 9.9 percent in March to $2.15 trillion.

The company’s retained portfolio increased to $712.5 billion as mortgage purchase and sales agreements entered into during the month of March totaled $43.5 billion, up from $14.8 billion in February.

Mortgage delinquencies continued to inch up as well, as the single-family delinquency rate (90+ days) climbed three basis points to 0.74 percent in February, nearly double the 0.40 percent rate in March 2007.

Washington D.C.-based Fannie Mae reported a two percent gain in its gross mortgage portfolio during the month, which rose to $722.8 billion.

The company’s total book of business, which is the sum of the gross mortgage portfolio balance and total Fannie Mae MBS and Other Guarantees balance, less Fannie Mae MBS held in the mortgage portfolio, increased at a compound annualized rate of 6.6 percent in March to $2.97 trillion.

Fannie’s serious delinquency rate (90+ days) climbed four basis points during February to 1.10 percent, up from 0.66 percent a year earlier.

Shares of Freddie were up 96 cents, or 3.69%, to $26.98, while sister Fannie saw its share jump $1.46, or 5.21%, to $29.49 in afternoon trading on Wall Street.

See detailed Fannie and Freddie info.

(photo: paraflyer)

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