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Fannie Mae’s Book of Business Ends 10 Straight Months of Decline

Fannie Mae Book of BusinessFannie Mae's Book of Business ended 10 consecutive months of declining when it posted a compound annualized rate increase of 1.5 percent in September, according to Fannie Mae's September 2014 Monthly Summary.

The GSE's Book of Business totaled $3.12 trillion in September, a jump of 1.5 percent from the August amount of $3.116 trillion. It was the first monthly increase in Fannie Mae's Book of Business this year and the first since November 2013, when it ticked up by 0.1 percent.

Year-to-date as of September 30, Fannie Mae's compounded growth rate for the Book of Business was – 1.8 percent following the 1.5 percent increase from August to September.

Fannie Mae's Gross Mortgage Portfolio declined at a compound annualized rate of 12.7 percent from August to September, down to an end balance of $438.1 billion. It has fallen at a rate of 14 percent year-to-date as of September 30; in January, it was at $480.7 billion.

The value of Fannie Mae's mortgage-backed securities and other guarantees, which consists of securities and mortgage loans for which Fannie Mae manages credit risk, increased from August to September at a compounded growth rate of 2.7 percent up to $2.79 trillion. September was only the second month of 2014 that Fannie Mae's MBS and other securities increased month-over-month; it increased at a rate of 0.6 percent from June to July. Year-to-date as of September 30, it has declined at a rate of 0.6 percent.

The conventional single-family serious delinquency rate for Fannie Mae loans dropped by three basis points from August to September, down to 1.96 percent. The single-family serious delinquency rate has declined every month since September 2013, when it was at 2.55 percent. Meanwhile, the multi-family serious delinquency rate held steady at 0.09 percent in September 2014, according to the summary.

In September, Fannie Mae completed 8,684 loan modifications and has completed 96,915 loan mods year-to-date as of September 30, according to the summary.

Fannie Mae has been under conservatorship of the Federal Housing Finance Agency (FHFA) since September 2008.

About Author: Brian Honea

Brian Honea's writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master's degree from Amberton University in Garland.

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