GSEs Release Mortgage Portfolio Updates

Fannie Mae and Freddie Mac released monthly summary reports covering October. The reports contain information about the GSEs' monthly and year-to-date activities related to gross mortgage portfolios; mortgage-backed securities; and other guarantees, interest rate risk measures, serious delinquency rates, and loan modifications.

The full Fannie report can be found on Fanniemae.com. The following are the October 2020 highlights provided within the report:

• Fannie Mae's Guaranty Book of Business increased at a compound annualized rate of 12.0%
• The Conventional Single-Family Serious Delinquency Rate decreased 15 basis points to 3.05%
• 3.6% of Fannie's Single-Family Conventional Book of Business based on unpaid principal balance and loan count, respectively, was in active forbearance, the vast majority of which were related to COVID-19; 17% of these loans in forbearance (based on loan count) were still current
• 0.5% of our Multifamily Guaranty Book of Business based on the unpaid principal balance was in an active forbearance, the vast majority of which were related to COVID-19
• Fannie Mae issued resecuritizations that were backed by $10.5 billion in Freddie Mac securities
• Fannie Mae's maximum exposure to Freddie Mac collateral that was included in outstanding Fannie Mae resecuritizations was $123.1 billion.

The full Freddie report can be found on FreddieMac.com, and the enterprise reported the following highlights:

• The total mortgage portfolio increased at an annualized rate of 25.7%
• Single-family refinance-loan purchase and guarantee volume was $89.7 billion, representing 71% of total single-family mortgage portfolio purchases and issuances.
• The aggregate unpaid principal balance (UPB) of our mortgage-related investments portfolio decreased by approximately $6.7 billion 
• Freddie Mac mortgage-related securities and other mortgage-related guarantees increased at an annualized rate of 26.1%
• The measure of our exposure to changes in portfolio value (PVS-L) averaged $10 million