Fannie Mae’s Portfolio Down 18% in July, Delinquencies Rising

Business at Fannie Mae was recovering mid-way through the summer, though the total value of its portfolio remains down nearly one-fifth, according to a press release on Thursday.

The government-sponsored purchaser of mortgages said its Book of Business grew at a compound annualized rate of 10.1% in July, helping the year-to-date figure improve to 6.1%. However, its total mortgage portfolio declined at an annualized rate of 18.2%. In July, the portfolio fell by 1.7%, the first dip in three months.

The Serious Delinquency Rate for conventional single-family home rose 26 basis points in June â€