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FNM Fed Natl Mtge Ass

2.60
0.06 (2.36%)
20 Dec 2024 - Closed
Realtime Data
Share Name Share Symbol Market Type
Fed Natl Mtge Ass TG:FNM Tradegate Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.06 2.36% 2.60 2.56 2.62 2.62 2.54 2.60 5,410 22:50:16

Delinquencies Rise Further In Freddie's Shrinking Portfolio

25/09/2009 2:27pm

Dow Jones News


Fed Natl Mtge (TG:FNM)
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   DOW JONES NEWSWIRES 
 

Freddie Mac (FRE) said Friday that delinquencies in its mortgage portfolio continued to rise last month, putting further pressure on the mortgage financier.

It and larger sibling Fannie Mae (FNM) were put into conservatorship a year ago by the federal government amid fears of mounting losses at the companies.

Freddie said August delinquencies rose to 3.13% from 2.95% in July and 1.11% a year earlier.

The report also showed that Freddie is continuing to unwind its portfolio, falling another $20 billion during the month to $779.41 billion. As in July, the drop was driven by a decrease in Freddie mortgage-backed securities held by the company. Still, the portfolio rose at a 3.7% annualized rate in August.

Freddie shares, which have been active and volatile the past several months, were recently down 2.07% to $1.89.

-By Kevin Kingsbury, Dow Jones Newswires; 212-416-2354; kevin.kingsbury@dowjones.com

 
 

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