Fannie Mae recently released its Monthly Summary for February 2017. Fannie Mae’s gross mortgage portfolio decreased for at a compound annualized rate of 16.9 percent for the month, while the GSEs Conventional Single Family Delinquency Rate stayed much the same month-over-month.
The GSE also reports that 6,151 loan modifications were completed in February, a decrease from January’s 6,300 modifications.
The aggregate unpaid principal balance (UPB) of Fannie Mae’s gross mortgage portfolio was a little over $268.8 billion at the end of the month a slight decrease from January’s $272.98 billion. The portfolio has declined at a rate of 7.6 percent over the first two months of 2017.
Fannie Mae's total book of business, which includes the gross mortgage portfolio plus total Fannie Mae mortgage-backed securities and other guarantees minus Fannie Mae MBS in the portfolio, decreased at a compound annualized rate of 16.9 percent in February, down to a value of about $3.152 trillion from January’s $3.15 trillion.
January 2017 saw a rare growth in Fannie Mae’s gross mortgage portfolio of 2.8 percent, although February saw its larger decline. January of 2016 was one of only two months to experience compounded growth in Fannie Mae’s gross mortgage portfolio, along with August 2016.
The GSE’s mortgage portfolio composition reveals that Fannie Mae completed $4.6 billion in purchases in February 2017 a decrease from January’s $6 billion, although sales increased month-over-month. The end balance of the GSE’s February 2017 mortgage portfolio was $51 billion, sitting below January’s end balance of $5.4 million.
Serious delinquencies remained much the same. Non-credit enhanced delinquencies remained at 1.17 percent in February as in January, while credit risk transfers remained at 0.17 percent. Total delinquencies dropped from 1.20 percent in January to 1.19 percent in February.
Non-Fannie Mae mortgage agencies completed around $207 billion in mortgage loans in February, still below January’s $211 billion.
To view the full Fannie Mae Monthly Volume Summary, click here.