Fannie Mae issued $48 billion of mortgage-backed securities in August, a 12% increase from July with the GSE also reporting improving delinquency numbers.
The government managed mortgage giant, not surprisingly, is benefiting from an increase in refinancings. Fannie's August report shows monthly MBS issuance has risen 32% since May.
The GSE said the serious delinquency rate on its guaranteed single-family mortgages fell to 4.82% in August. Five months ago, 5.47% of Fannie loans were 90 days or more past due.
Freddie Mac recently reported that its serious delinquency rate has fallen for three consecutive months, and now stands at 3.83%.
Meanwhile, the Federal Housing Administration is experiencing an increase in delinquencies.
FHA's serious delinquency rate (90 days or more past due) fell to 8.3% in June and then rose to 8.6% in July, after an upward revision by the agency. In August the delinquency rate edged down to 8.5%.
