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GSEs' Portfolios Take Opposite Paths

Freddie Mac's total ""mortgage portfolio"":http://www.freddiemac.com/investors/volsum/pdf/0509mvs.pdf decreased at an annualized rate of 1.6 percent in May, while sister company Fannie Mae reported its ""portfolio"":http://www.fanniemae.com/ir/pdf/monthly/2009/053009.pdf grew by 35.1 percent.
Freddie's portfolio now stands at $823.4 billion, compared to $830.2 billion in April. Fannie's has swelled to $789.6 billion, up from $770.1 billion the month before.
Both companies reported that mortgage delinquencies are accelerating. Freddie said defaulted loans jumped to 2.62 percent of its book of business in May, compared to 2.44 percent in April and 0.86 percent in May 2008.
At Fannie, the serious delinquency rate climbed to 3.42 percent in April, the most recent monthly data available. Delinquencies claimed 3.15 percent of Fannie's portfolio the previous month, and only 1.22 percent in April 2008.

About Author: Carrie Bay

Carrie Bay is a freelance writer for DS News and its sister publication MReport. She served as online editor for DSNews.com from 2008 through 2011. Prior to joining DS News and the Five Star organization, she managed public relations, marketing, and media relations initiatives for several B2B companies in the financial services, technology, and telecommunications industries. She also wrote for retail and nonprofit organizations upon graduating from Texas A&M University with degrees in journalism and English.

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