Fannie Mae reported last week that its retained portfolio shrunk 4.8% in January to $721.4 billion. This compares to 12.3% growth in December to $724.4 billion. Previously, Freddie Mac reported 4.4% growth in its retained portfolio to $706.2 billion, after contracting 1.2% in December.

The shrinkage resulted from sales and liquidations totaling $1.9 billion and $10.7 billion, respectively, with portfolio purchases at $9.7 billion. In December, purchases totaled $19.7 billion with sales and liquidations similar to January's levels.

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