Fannie Mae's Total Book of Business
finished the month of August with a balance of $3.167 trillion and a compound
annual growth rate of (0.8) percent. The
balance at the end of August was $3.169 trillion. The Book of Business consisted of $531.28
billion in the Gross Mortgage Portfolio, $2.78 trillion of Fannie Mae
mortgage-backed securities (MBS) and Other Guarantees less the $142.73 billion Fannie
Mae MBS held in portfolio.
The Gross Mortgage Portfolio end balance
of $513.3 billion represents the unpaid principal balance (UPB) of the mortgage
portfolio that Fannie Mae holds for investment and liquidity purposes. The UPB takes into account net outstanding
commitments to sell of $18.0 billion.
The total decreased from $547.05 billion at the end of July,
representing a compound annualized rate of decrease of (29.6) percent. There were $201.85 billion in purchases for
the Gross Mortgage Portfolio and $(207.04) in sales during the month. Liquidations totaled $(96.58) billion.
The end balance of the Gross Mortgage Portfolio
of $531.28 billion consists of $331.96 billion in Mortgage Loans, $9.86 billion
in non-Fannie Mae Agency Mortgage Securities and $46.74 billion in non-Fannie
Mae, Non-Agency Mortgage Securities.
The company's Guaranteed Securities and
Mortgage Loans consists of securities and mortgage loans for which Fannie Mae
manages credit risk. That component of
the Book of Business increased by a compound annual growth rate of 3.7 percent
for the month and 2.0 for the year-to-date.
There were issuances of $66.41 billion in MBS and liquidations totaled $(57.70)
billion for an annualized MBS liquidation rate of (25.29) percent for the month
and (30.19) percent YTD.
During the month Fannie Mae issued
$51.01 billion net commitments to purchase and $(53.96) commitments to sell,
resulting in net retained commitments of $(2.96) billion. YTD there have been $667.40 billion net commitments
to purchase, $(607.00) billion commitments to sell and net retained commitments
of $406.0 million.
The delinquency rate in Fannie Mae's
Conventional Single Family portfolio was 2.61 percent at the end of August,
down from 2.70 percent in July and 3.44 percent one year earlier. Non-credit enhanced loans had a delinquency
rate of 2.18 percent compared to 2.24 percent the previous month and 2.80
percent in August 2012. The rate in the credit
enhanced portion of the portfolio was 5.36 percent compared to 5.57 percent and
7.56 percent in the two earlier periods.
The multifamily delinquency rate was unchanged at 0.18 percent.
Fannie Mae completed 13,791 loan
modifications in August. This brings the
year-to-date total of modifications to 109,172.