|Monthly business volume at Fannie Mae was higher than any month since 2003. But delinquency continued further into record territory.
First-quarter new business acquisitions at the Washington, D.C.-based company were $175.4 billion, according to a monthly summary released today. Volume jumped from $113.3 billion in the fourth quarter but was lower than $192.0 billion in the first-quarter 2008.
March new business acquisitions were $92.8 billion, soaring from $53.8 billion the previous month and $59.7 billion the previous year.
Monthly volume was higher than any month since October 2003 -- when reported business volume was $100.3 billion.
Fannie's total book of business climbed to $3.1440 trillion at the end of last month from $3.1137 trillion at the end of February. The March 31 balance included a gross mortgage portfolio of $0.7839 trillion and outstanding mortgage-backed securities of $2.3601 trillion.
Residential delinquency of at least 90 days, which the secondary lender reports on a one-month lag, was 2.96 percent on Feb. 28. Late payments rose from 2.77 percent on Jan. 31 -- which was already the highest delinquency on record -- and 1.10 percent on Feb. 29, 2008.
Multifamily delinquency of at least 60 days was 0.32 percent at the end of February, higher than January's 0.27 percent and 0.10 percent the previous year.