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Quarterly residential mortgage production by lender. Subprime, Alt-A, home equity and conforming originations. Volume by quarter since 2003.

New Business, Delinquency Better at Fannie

Secondary activity increases 23%

March 1, 2013

By Mortgage Daily staff

New business increased by nearly a quarter in January at the Federal National Mortgage Association, but indications are that business slowed in February. Serious delinquency on residential loans continued sliding, while delinquency on apartment loans ticked up.

In its monthly operational summary, Fannie Mae reported $88.416 billion in new business acquisitions for January.

Activity increased from the prior month, when $71.906 billion in new business acquisitions were made, and the same month during the prior year, when volume totaled $63.876 billion.

Monthly issuance data for fixed-rate agency mortgage-backed securities indicates that business slowed slightly in February at Fannie.

The Washington, D.C.-based company's $3.1856 trillion book of business was lower than the $3.1904 trillion total as of the end of last year. The book was slightly higher, however, than $3.1813 trillion as of Jan. 31, 2012.

The most recent total included a gross mortgage portfolio of $0.6205 billion and $2.5650 trillion in outstanding MBS.

The residential delinquency rate had not increased since February 2010, when it stood at 5.59 percent, and January 2013 was no exception.

Home loans that were at least 90 days past due accounted for 3.18 percent of all loans in January, falling from 3.29 percent as of Dec. 31, 2012. It was the lowest level of delinquency for Fannie since March 2009, when the rate was 3.15 percent.

As of a year earlier, the serious delinquency rate on home loans was 3.90 percent.

Multifamily delinquency of at least 60 days inched up to 0.35 percent at Fannie during January from 0.24 percent as of the end of last year.

Performance has improved, however, from the same point in 2012, when the multifamily rate was 0.52 percent.

Fannie Mae profile

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