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

Fannie Improves Performance in May

New business up 1%

June 28, 2013

By Mortgage Daily staff

Monthly secondary marketing activity inched up at the Federal National Mortgage Association, while residential delinquency fell to the lowest level in more than four years and the book of business moved higher. Even delinquency on commercial real estate loans was lower.

The government-controlled enterprise reported Friday that new business acquisitions during May totaled $78.048 billion.

Secondary activity moved up from the previous month, when volume amounted to $77.298 billion.

It was also an improvement from the same month last year, when new business acquisitions were $71.574 billion.

So far during 2013, Fannie Mae has generated $395.389 billion in volume.

The Washington, D.C.-based company pushed up its total book of business to $3.1787 trillion from $3.1778 trillion in April. But the total wasn't quite as high as $3.1842 trillion at the same point in 2012.

The May 31 total reflected a gross mortgage portfolio of $0.5749 trillion and $2.6039 trillion in outstanding mortgage-backed securities and other guarantees.

Fannie shaved off 10 basis points from its residential 90-day delinquency rate, which finished the latest month at 2.83 percent.

Delinquency has tumbled from May 2012, when the rate was 3.57 percent.

The May 2013 delinquency rate was the lowest it's been since January 2009, when it was 2.77 percent.

Home-loan delinquency has not increased since February 2010, when the rate was 5.59 percent.

Multifamily delinquency of at least two months was 0.30 percent in May. The rate fell from 0.36 percent a month earlier and 0.31 percent a year earlier.

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