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Home | Daily Dose | Fannie Mae’s Book Shrinks as New Business Falls
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Fannie Mae’s Book Shrinks as New Business Falls

Fannie Mae’s book of business shrank in December, ending a short streak of growth and marking the eighth month of 2013 in which business slowed.

According to the GSE’s monthly volume summary, business contracted at a compounded annual rate of 0.4 percent in December, bringing the full-year growth rate to -0.8 percent.

The total book of business was valued at about $3.16 trillion as of the end of 2013.

Fannie Mae’s gross mortgage portfolio also shrank in December for the 12th straight month as commitments to purchase fell nearly $10 billion to $37.7 billion. The portfolio totaled $490.7 billion as of year-end.

New business acquisitions in December came to $39.7 billion, down from $42.0 billion in November. For the entire year, acquisitions totaled $796.6 billion.

Delinquency rates continued to trend downward. According to the company, the single-family serious delinquency rate was down 6 basis points in December to 2.38 percent, while the multifamily serious delinquency rate fell 1 point to 0.10 percent.

The GSE reported 13,815 loan modifications in December, with the entire year seeing 160,007 modifications.

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About Author: Tory Barringer

Tory Barringer
Tory Barringer began his journalism career in early 2011, working as a writer for the University of Texas at Arlington's student newspaper before joining the DS News team in 2012. In addition to contributing to DSNews.com, he is also the online editor for DS News' sister publication, MReport, which focuses on mortgage banking news.

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