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Fannie Mae's October portfolio jumps 28 percent

Tue Nov 25, 2008 3:12pm EST

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NEW YORK, Nov 25 (Reuters) - Fannie Mae (FNM.P), the largest U.S. home funding source, said it beefed up its mortgage investment portfolio in October, the first full month that the company was under government control.

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The company's mortgage holdings grew at a nearly 28 percent annual rate last month to $777.1 billion from $761.4 billion in September.

Commitments to purchase mortgages and securities in future months were $33.48 billion in October compared with $43.76 billion the prior month.

Seriously delinquent rates on Fannie Mae conventional single-family mortgages jumped 15 basis points in September, the latest month reported, to 1.72 percent, the company said in a statement.

Freddie Mac (FRE.P), the second largest U.S. home funding source, on Monday reported a 43.6 percent jump in its retained mortgage portfolio to $763.7 billion in October. The company, also taken under government control in early September, said its agreements to buy mortgages in coming months rose to $17.4 billion in October from $2.5 billion the prior month. (Reporting by Lynn Adler, Editing by Chizu Nomiyama)

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