Fannie Mae's book of business declined for the first three months of this year, ending the first quarter with a monthly compound annualized rate of -1.8 percent. Over the first quarter, the GSE’s book of business declined at a compound annualized rate of 2.2 percent.
The last time Fannie Mae's book increased in size was in November, when it grew 0.1 percent on a compound annualized basis.
Fannie’s gross mortgage portfolio has also been on the decline over the first three months of this year, though at a much slower rate in March than in the first two months of the year.
After declining at a compound annualized rate of 21.9 percent in January and 21.0 percent in February, Fannie’s gross mortgage portfolio posted a decline rate of 8.9 percent in March.
Fannie Mae’s new business acquisitions in March totaled $26.5 billion. Year-to-date, new business acquisitions at the GSE total $86.6 billion.
As of March, total mortgage-backed securities and other guarantees at Fannie Mae reached $2.8 trillion.
Delinquencies among single-family and multifamily mortgages at the GSE declined in March. Single-family delinquencies declined from 2.27 percent to 2.19 percent in March, while multifamily delinquencies came down slightly from 0.11 percent to 0.10 percent.
Both rates are also down from last year when the single-family delinquency rate was 3.02 percent and the multifamily delinquency rate was 0.39 percent. Fannie Mae modified 12,642 loans in March, bringing the year-to-date total to 36,044.