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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 Business Plummets; Delinquency at 3-Year Low

45% decline in secondary activity

May 31, 2012

By staff

As fast as it rose, secondary marketing activity at the Federal National Mortgage Association plunged last month. On the upside, it's been exactly three years since home-loan delinquency has been this low at the company.

Operational data from the Washington, D.C.-based firm indicated that new business acquisitions were $52.470 billion during April.

That was a far cry from the $95.310 billion in volume at Fannie Mae during March -- when activity jumped by more than half from February.

However, preliminary data from eMBS indicates that business at the government-controlled enterprise recovered somewhat in May, with fixed-rate issuance rising around 42 percent from April.

Volume was stronger than April 2011, when new business acquisitions totaled $39.278 billion -- a two-year low at the time.

From Jan. 1 through April 30, Fannie's total business amounted to $273.843 billion.

The secondary lender reported that its total book of business finished April at $3.1815 trillion, diminishing from $3.2037 trillion as of March 31. The total was $3.2143 trillion as of April 30, 2011.

Fannie's gross mortgage portfolio accounted for $0.6832 trillion of the latest total, while outstanding mortgage-backed securities made up $2.4983 trillion.

Home-loan delinquency of at least 90 days continued to improve, falling 4 basis points from March to 3.63 percent. The last time delinquency was this low was in April 2009 -- when the rate was 3.42 percent.

The residential rate was 4.19 percent in April 2011.

Multifamily delinquency of at least 60 days fell for the fifth consecutive month to 0.35 percent. The rate was 0.37 percent a month earlier and 0.57 percent a year earlier.

Fannie Mae profile

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