Fannie Mae Posts 1.1% Annualized Growth In Guaranty Book As Delinquencies Stay Low – NMP Skip to main content

Fannie Mae Posts 1.1% Annualized Growth In Guaranty Book As Delinquencies Stay Low

Feb 02, 2026
Fannie Mae Posts Annualized Growth

Fannie Mae’s December 2025 report shows modest growth in its guaranty book and largely stable credit conditions, with delinquency rates near historic lows despite elevated mortgage rates and slower home sales

Fannie Mae’s December 2025 Monthly Summary pointed to measured growth and largely steady credit conditions, with the government-sponsored enterprise (GSE) continuing to modestly expand its mortgage guarantees while delinquency levels remained near historic lows at year-end.

The company said its Guaranty Book of Business — representing outstanding mortgage-backed securities (MBS) and other credit guarantees — expanded at a 1.1% annualized pace in December. The increase suggests ongoing participation in the housing finance market despite elevated mortgage rates and a slowdown in home sales activity.

Credit quality remained broadly stable across portfolios. The single-family serious delinquency rate rose marginally by one basis point to 0.58%, while multifamily performance improved slightly, with the serious delinquency rate declining by one basis point to 0.74%. The divergence highlights differing stress dynamics between owner-occupied and rental housing segments.

As of December 31, 2025, Fannie Mae reported $184.3 billion in maximum exposure to Freddie Mac-backed collateral through its re-securitization activities, reflecting continued management of legacy and commingled securities within the secondary market.

Supporting tables in the report detail year-to-date expansion in the guaranty book and shifts in the retained mortgage portfolio throughout 2025, including changes tied to loan purchases, dispositions, and liquidations. Additional data on liquidity portfolio holdings and debt issuance offer further insight into balance sheet strategy amid shifting market conditions.

Investors, servicers, and other market participants closely track these monthly disclosures for indications of emerging credit trends and balance sheet movements that may influence mortgage pricing, spreads, and broader securitization market liquidity.

About the author
Published
Feb 02, 2026
What The 2026 Election Means For Mortgage Professionals

CHLA’s Scott Olson examines how the next Congress could reshape housing tax breaks, lending costs, and access to homeownership — and where bipartisan deals remain possible

Oct 22, 2026
Servicer Takes New York Payment-Fee Fight To Federal Court

Onity Group says the state hasn’t clearly defined how fees for optional expedited payments must relate to the cost of providing the service

January’s Condo Reserve Increase Puts Project Budgets In Focus

Fannie Mae and Freddie Mac’s higher allocation requirement gives LOs reason to review association finances now, while California’s new funding duties begin in 2032

California Probes Lenders Over Delayed Wildfire Insurance Payouts

State regulators are examining access to rebuilding funds, while CalHFA offers financing tools for eligible disaster survivors

One In Three Americans Blame Lenders For Housing Crisis Ahead Of Midterms

Voters want lower taxes, insurance costs, and mortgage rates, but 63% doubt the election will improve housing

Oct 20, 2026