Both Fannie Mae and Freddie Mac recorded further gains in their retained portfolios.

Freddie Mac's surged 53.4% to $770.4 billion, while Fannie Mae's grew 15% to $736.9 billion. Respective year-to-date growths are running at 16.5% and 4.3%. 

Net retained commitments remained strong, though down from April. Freddie Mac's totaled $26.2 billion in May compared with $43.5 billion in April, while Fannie Mae's was $24.5 billion compared with $30.7 billion.

Freddie Mac's retained portfolio growth came on gains in agency MBS. PCs and structured securities rose $20.2 billion, following a $28.4 billion increase in the previous month. 

Non-Freddie Mac agencies were up nearly $15 billion to $69.6 billion. Fannie Mae's portfolio growth was due to an $8 billion increase in the GSE's MBS holdings.   

The other details included in Freddie Mac's monthly volume summary include the fact that the total guaranteed PCs and structured securities issued reached $47.3 billion, up from $40.8 billion in April.

After liquidations, issuance was  $20.6 billion compared with $11.7 billion in the previous month. For May, the GSE reported an 18.5% annualized increase in the total mortgage portfolio from 4.7% in April.

Year-to-date growth is 10.1%. Freddie Mac also disclosed that total delinquencies rose four basis points to 81 basis points in April, and is up 41 basis points from a year ago. Also, the GSE's effective duration gap declined to zero from one-month.

Fannie Mae MBS issuance was $63.6 billion in May compared with $58.6 billion in April. After liquidation, issuance was $27.5 billion versus $20.2 billion.

The agency's book of business grew at a compound annualized growth rate of  9.9%, and is running at 10.3% year-to-date. Total delinquencies rose seven basis points in April to 122 basis points, and is up 60 basis points in the past 12 months.

The GSE's effective duration gap declined to one-month in May from two-months in April.

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