Fannie Mae's Mortgage Portfolio Down 10.6% in 2012

by devteam February 1st, 2013 | Share

Fannie Mae saidrnon Thursday that its Book of Business declined at a compound annual rate of 4.8rnpercent in December to a value of $3.19 trillion compared to $3.20 trillion inrnNovember.  The Book grew 0.2 percentrnduring 2012 from $3.18 trillion at the end of 2011.</p

The company’srnmortgage portfolio had a year-end balance of $633.05 billion.  This was composed of $371.71 billion inrnmortgage loans, $12.32 billion in Non-Fannie Mae Agency securities, and $65.06rnbillion in Non-Fannie Mae Non-Agency securities for a total of $633.05 billion.</p

The mortgagernportfolio decreased from November to December at an annualized rate of 1.0rnpercent. This reflected purchases of $30.66 billion against sales of $19.07rnbillion, and liquidations of $11.05 billion.  rnFor the entire year Fannie Mae posted purchases of $288.34 billion,rnsales of $244.21 billion, and liquidations of $139.49 billion resulting in arndecrease of 10.6 percent from a gross portfolio of $708.4 billion at the end ofrn2011.  </p

Fannie Maernissued a total of 67.59 billion in mortgage-backed securities in December andrn865.5 billion in all of 2012.  Thernannualized liquidation rate was 35.99 percent for the month and 30.68 percentrnfor the year for a year-end balance of $2.71 trillion.  </p

The Effective Duration Gap on Fannie Mae’s portfolio averagedrnzero months in December as it has for the entire year.</p

Fannie Mae’s ConventionalrnSingle-Family Serious Delinquency Rate fell from 3.30 percent in November torn3.29 percent in December and was down 61 basis points from the rate in Decemberrn2011.  The non-credit enhancedrndelinquency rate in December was 2.70 percent compared to 3.07 percent one yearrnearlier but unchanged from November.  Thernrate for credit enhanced   loans was 7.09rnpercent compared to 7.12 percent in November and 9.10 percent in Decemberrn2011.  The serious delinquency rate forrnmulti-family mortgages was down one basis point from November to 0.24rnpercent.  The rate in December 2011 wasrn0.59 percent.  </p

Fannie Mae completed 12,095 loanrnmodifications in December and 163,412 in 2012.</p

Here is the full report.

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About the Author


Steven A Feinberg (@CPAsteve) of Appletree Business Services LLC, is a PASBA member accountant located in Londonderry, New Hampshire.

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