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Fannie Outperforms Freddie

Secondary activity at Fannie Mae inched higher last month. The company’s outstanding mortgages rose even as total mortgages at its secondary cousin Freddie Mac fell — indicating a shift in market share. Delinquency was lower versus an increase at Freddie.

November saw $77.7 billion in new business acquisitions at Fannie, up from $76.8 billion in October. Business was up substantially from $43.1 billion reported for November 2009.

From Jan. 1 through Nov. 30, secondary purchases were $767.9 billion at the Washington, D.C.-based company.

Fannie’s book of business ended November at $3.2153 trillion, higher than $3.2122 trillion at the end of the prior month. At the same time, rival Freddie reported today that its total mortgage portfolio fell to $2.1720 trillion as of the end of last month from $2.1801 trillion at the end of October — indicating a shift in market share.

Fannie’s book was $3.2158 trillion on Nov 30, 2009.

The latest total reflected a gross mortgage portfolio of $0.7930 trillion and outstanding mortgage-backed securities of $2.4223 trillion.

Residential delinquency of at least 90 days, which Fannie reports on a one-month lag, fell to 4.52 percent in October from 4.56 percent during September. Rival Freddie reported that late payments rose to 3.82 percent from 3.80 percent during the same period and rose again last month.

In October 2009, Fannie’s home-loan delinquency was 4.98 percent.

Delinquency of at least two months on loans secured by apartment buildings finished October at 0.71 percent, higher than 0.65 percent a month earlier and 0.61 percent a year earlier.

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