Fannie and Freddie Increase Portfolio Purchases

Both Fannie Mae and Freddie Mac have started retaining more mortgage assets in their own portfolios, with Freddie's portfolio growth sharply outpacing Fannie's in April. Freddie Mac's retained mortgage portfolio totaled $737.5 billion at the end of April, a net increase of $25.1 billion from March. Fannie Mae ended April with a retained portfolio of $728.4 billion, a $5.6 billion increase. Including their guarantee businesses, Fannie's total book of business grew at a 6.7% annualized rate in April, and Freddie Mac's book of business increased grew at a 4.7% rate. Both saw higher delinquency rates as well. Fannie Mae's overall single-family serious delinquency rate rose five basis points to 1.15% in April. Freddie Mac's rose three basis points to 77 basis points.