Secondary activity fell to the lowest level in more than three years at the Federal National Mortgage Association. Also moving lower were its book of business and delinquency rate.
During the final month of last year, Fannie Mae had $39.695 billion in new business acquisitions, according to monthly operational data released Friday.
It was the slowest month for the Washington, D.C.-based company since July 2011, when secondary activity was just $39.426 billion.
Volume totaled $42.069 billion in November and $71.906 billion in December 2012.
Fourth-quarter new business acquisitions totaled $130.973 billion, tumbling from $197.626 billion in the prior quarter and plunging from $250.491 billion in the final three months of 2012.
During all of 2013, new business acquisitions amounted to $796.562 billion, declining from $918.414 billion in 2012.
Fannie finished 2013 with a $3.1647 trillion book of business, slipping from $3.1658 trillion a month earlier and $3.1904 trillion a year earlier.
The Dec. 31, 2013, book included a gross mortgage portfolio of $0.4907 trillion and $2.6740 trillion in outstanding mortgage-backed securities.
Residential delinquency of at least 90 days finished last year at 2.38 percent — the lowest delinquency rate since November 2008’s rate of 2.13 percent.
The last time delinquency moved higher was in February 2010, when it was 5.59 percent.
Home loan delinquency was 2.44 percent as of Nov. 30, 2013, and 3.29 percent as of Dec. 31, 2012.
On the commercial mortgage side, multifamily delinquency of at least 60 days was 0.10 percent at the end of 2013, a basis point lower than at the end of the prior month and 14 BPS better than at the end of the prior year.
