Tuesday, September 29, 2009

Fannie Mae Delinquencies Jump

Fannie Mae the largest provider of funding for U.S. home mortgages, said that delinquencies on loans it guarantees has accelerated.

Delinquency on loans in its single-family guarantee business jumped by 23 basis points to 4.17 percent in July, the most recent data available. A year earlier it was 1.45 percent.

The multifamily delinquency rate also rose, up 5 basis points to 0.56 percent in July. A year earlier it was 0.13 percent.

Fannies total mortgage investment portfolio is currently $779.4 billion.

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