It was the third month in a row that purchases picked up and the second month that delinquency declined at the Federal National Mortgage Association.
Fannie Mae’s new business acquisitions edged to $86.4 billion last month from $85.3 billion in April, according to monthly operational data released today. It was the third consecutive month of improvements.
Business was also better than $72.6 billion in May 2009.
Business totaled $363.1 billion from Jan. 1 to May 31.
The Washington, D.C.-based company’s book of business finished May at $3.2507 trillion, down from $3.2582 trillion at the end of April. The book included a gross mortgage portfolio of $0.8137 trillion and $2.4370 trillion in outstanding mortgage-backed securities.
Home-loan delinquency of at least three months fell for the second consecutive month to 5.30 percent on April 30 from 5.47 percent on March 31. Late payments, reported on a one-month lag, were just 3.42 percent in April 2009.
Apartment-loan delinquency of at least 60 days was also lower, ending April at 0.78 percent compared to 0.79 percent a month earlier. Multifamily delinquency was 0.36 percent a year earlier.
