Fannie Mae reported last week that its portfolio commitments rose to a new high of $75.5 billion in June, rising from $73.8 billion in May. This brings outstanding portfolio commitments to a record $134.6 billion at the end of last month.
The high level of commitments was attributed mainly to Fannie Mae's attempt to maintain portfolio growth targets in the midst of high portfolio liquidations. Analysts from JPMorgan Securities said that although the GSE's retained portfolio commitments reached a record in June, most have not settled yet. The firm added that this should bode well for a pickup in retained portfolio growth in the second half of the year. New commitments should also remain solid in the near term, analysts stated.