The percentage of home loans 90 or more days past due held by the nation's two largest mortgage companies has declined yet again. Both ""Fannie Mae"":http://www.fanniemae.com and ""Freddie Mac"":http://www.freddiemac.com have reported a steady drop in their single-family delinquency rates since February of this year.
According to Fannie Mae's latest ""monthly summary report"":http://www.fanniemae.com/ir/pdf/monthly/2010/093010.pdf, the company's serious delinquency rate fell 12 basis points in August to 4.70 percent. Six months earlier, that number stood at nearly 5.60 percent.
[IMAGE] [COLUMN_BREAK]Freddie Mac's ""monthly report"":http://www.freddiemac.com/investors/volsum/pdf/0910mvs.pdf shows its serious delinquencies decreased 3 basis points to 3.80 percent in September. That’s down from 4.20 percent in February.
(Fannie Mae's reporting of its past-due numbers lags sibling Freddie Mac by one month.)
Movement in the two GSEs' multifamily serious delinquency rates was mixed. Fannie's fell 8 basis points to 0.66 percent in August, while Freddie's rose 3 basis points to 0.35 percent in September.
Fannie Mae reported growth in its mortgage portfolio, while sibling Freddie Mac lost market share in September.
Fannie says its total book of business increased at an annualized rate of 2.1 percent in September, with $79.5 billion in new business acquisitions. The GSE’s total holdings and investments stood at $3.2 trillion as of the end of September.
Freddie reported that its total mortgage portfolio decreased at an annualized rate of 7.1 percent during the same month. The company’s overall book of business totaled $2.2 trillion at the end of September.