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Fannie and Freddie Mortgages Increase In June

Mortgages issued by Fannie Mae and Freddie Mac increased in June, but delinquencies continued to rise. Fannie’s mortgage portfolio increased by an impressive 18.1% in June. For more on the latest numbers from Fannie and Freddie, see the following article from HousingWire.

Government-sponsored mortgage investors Fannie Mae (FNM: 0.58 0.00%) and Freddie Mac (FRE: 0.61 0.00%) along with Ginnie Mae saw issuance increase in June along with rising delinquency rates.

Fannie’s mortgage portfolio swelled by 18.1% in June and 5.4% from a year ago. Fannie securitized $33.2bn of whole loans held in the portfolio. Its total mortgage-related purchases and issuance grew to $792.61bn from $789.63bn in May, according to a monthly volume summary released last week.

The delinquency rate among Fannie’s conventional single-family mortgages jumped to 3.68% in May from 3.42% in April. The rate has increased every month since May 2008.

Fannie’s brother GSE, Freddie, saw a 2.78% delinquency rate for single-family homes in June, up from 2.62% in May, according to its monthly survey released last week.

Freddie’s purchases and issuances rebounded to $63.15bn in June after May’s slide to $50.22bn. Its refinance purchases jumped as well, to $50.9bn in June from $40.3bn in May.

Ginnie Mae issued more than $43bn in mortgage-backed securities in June, climbing over the $40bn threshold for the first time in its 41-year history. For the first half of 2009, Ginnie pumped $207bn of liquidity into the secondary market, up from $107bn from the first half of 2008.

This article has been republished from HousingWire. You can also view this article on HousingWire, a mortgage and real estate news site.

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This entry was posted on Tuesday, August 4th, 2009 at 9:30 pm and is filed under Housing Market News, Mortgage. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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