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Origination News | Lender Ranking | Fundings by Lender | Statistics
Quarterly residential mortgage production by lender. Subprime, Alt-A, home equity and conforming originations. Volume by quarter since 2003.

Fannie Delinquency at 4-Year Low

New Business acquisition off 9% in February

April 4, 2013

By Mortgage Daily staff

The Federal National Mortgage Association reported that new business slumped in February, while market data indicate that issuance slowed even further last month. Residential delinquency fell to the lowest level in four years.

In February, the Washington, D.C.-based firm had $80.179 billion in new business acquisitions, according to monthly operational data.

Activity dropped off from January, when secondary marketing activity amounted to $88.416 billion.

Data provided by eMBS indicate that business continued to slow in March, with fixed-rate issuance of mortgage-backed securities at Fannie Mae dropping to $63.523 billion from $74.349 billion in February.

New business acquisitions during the first two months of 2013 totaled $168.595 billion.

In February 2012, new business acquisitions added up to $62.187 billion.

Fannie's total book of business finished February at $3.1811 trillion, off from a month earlier when the total was $3.1856 trillion. But Fannie's book has grown from the same point last year, when the balance was $3.1802 trillion.

The most recent total book of business included an $0.6043 trillion gross mortgage portfolio and $2.5768 trillion in outstanding MBS.

The secondary lender continued to rein in residential delinquency, with the 90-day rate falling to 3.13 percent from 3.18 percent in January.

The latest level of delinquency was the lowest for Fannie since February 2009, when the rate was 2.96 percent.

As of Feb. 28, 2012, serious delinquency on Fannie's residential portfolio stood at 3.82 percent.

Performance on Fannie's multifamily book, however, deteriorated. The 60-day rate climbed to 0.41 percent from the prior month's 0.35 percent.

But the delinquency rate on apartment loans has receded from February 2012, when multifamily 60-day delinquency was 0.43 percent.

Fannie Mae profile

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