Fannie Mae's mortgage portfolio may be stabilizing after declining by over $200 billion, or 22.6%, over the 12 months ended in November.The government-sponsored enterprise reported that its giant portfolio had declined to $715.5 billion in November, down from $912.6 billion in November 2004. Freddie Mac, which used to be Fannie's smaller brother, now has a $692.7 billion portfolio. Freddie reported on Dec. 22 that its mortgage portfolio has grown at a 6.7% annual rate so far this year. However, Fannie is beginning to shift gears, and its portfolio shrank by only a 2.6% annual rate in November, compared with 16.1% in October. In September, Fannie sold $32.1 billion in assets as it struggled to achieve a 30% capital surplus mandated by its regulator. In November, Fannie sold only $2.5 billion in assets, and purchases totaled $16.0 billion. Freddie reported $32.6 billion in purchases during November. The GSEs can be found online at http://www.fanniemae.com and http://www.freddiemac.com.
-
Government officials confirmed the California Democrat is under scrutiny over a long-held Maryland property he designated as a second home in 2020.
1h ago -
Credit availability declined in June as the job market and rising delinquency figures have some lenders concerned, the leading mortgage trade group said.
2h ago -
The Ocean State is the latest to enact rules prohibiting the agreements that end up tying older homeowners to long-term contracts with real estate brokers.
2h ago -
CEO Robin Vince refused to comment on "rumors or speculation" about a potential merger between the custody banking giant and its smaller rival, Northern Trust. He also said that the bar for BNY to engage in M&A is "very high."
3h ago -
House Financial Services Committee Chairman French Hill promised to begin combing through Dodd-Frank to find areas for deregulation, while the panel's ranking member made it clear that Democrats would fight for the Consumer Financial Protection Bureau.
4h ago -
Gain on sale at JPMorgan Chase fell by 5 basis points in the second quarter, which could be a slightly adverse sign for mortgage banker results, KBW said.
4h ago