Fannie Mae’s reverse mortgage portfolio grew by more than $7 billion between Dec. 31 and June 30, according to the government-sponsored enterprise’s second-quarter financial report.
Fannie Mae reported slightly different amounts for the outstanding unpaid principal balance of reverse mortgages. In a footnote to its total $766.2 billion mortgage portfolio balance sheet, the report said the reverse mortgage balance was $48.6 billion for June and $41.2 billion for December. In another section of the report, it said the balance was $49 billion and $41.6 billion, respectively.
Fannie Mae remains under conservatorship by the Federal Housing Finance Agency, which requested another $10.7 billion from the Treasury to eliminate Fannie Mae’s net-worth deficit for the quarter.
