Fannie reported late last Friday afternoon that it acquired $73.4 billion in mortgages in July, up slightly from $72.6 billion in the month prior.
But commitments to purchase new mortgages fell 16% from June to $62.4 billion in July—the lowest level since April 2012.
The new report also shows the government-sponsored enterprise is making steady progress at reducing its mortgage investment portfolio. And its portfolio is shrinking at nearly twice the rate of Freddie Mac's.
Fannie's mortgage investments totaled $667 billion in July 1012 and it has fallen 18% to $547 billion as of July 31. In comparison, Freddie's investment portfolio has declined 9.5% over the previous 12 months to $521 billion in July. Both GSEs are under a directive from their federal regulator to reduce their investment portfolios.
Meanwhile, the serious delinquency rate on Fannie's guaranteed single-family portfolio fell seven basis points from June to 2.7% in July—to match Freddie Mac’s 2.7% delinquency rate.
A year ago, 3.5% of Fannie's single-family loans were 30 days or more past due or in the foreclosure process.