Fannie Mae mortgage portfolio drops again
Retuers reports Fannie Mae , the largest U.S. home funding company, said on Friday its mortgage portfolio fell by an annualized 16.3 percent in April, its sixth straight monthly drop.
The size of the massive portfolio, which is down 16.5 percent year-to-date, is a bone of contention with lawmakers who are aiming for stiffer oversight of the government-sponsored enterprise which is battling its way through an accounting scandal.
The portfolio stands at $851.9 billion, about $26 billion less than the end of May 2004. Last month Fannie Mae sold more of its mortgage assets and bought fewer mortgage securities, according to the company’s monthly volume summary.
