Fannie Mae saw quarterly mortgage purchases rise. But monthly volume fell as delinquency rose for the 12th consecutive month.
Second-quarter new business acquisitions were $199.1 billion, according to a monthly operational summary released today. Volume climbed from $192.0 billion in the first quarter and $183.1 billion a year earlier.
During only June, secondary purchases were $63.8 billion, down from $69.3 billion in May and $64.0 billion in June 2007.
Purchase commitments were $38.3 billion in June, down from $43.0 billion the prior month.
The Washington, D.C.-based company's total book of business was $3.040 trillion on June 30, climbing $0.030 trillion from May 31. The book of business included a gross mortgage portfolio of $0.750 trillion and outstanding mortgage-backed securities of $2.290 trillion.
Serious residential delinquency of at least 90 days on residential loans, reported on a one-month lag, was 1.30 percent on May 31, climbing from 1.22 percent on April 30. Late payments have risen each month since May 2007, when delinquency stood at 0.62 percent.
Delinquency of at least 60 days on multifamily loans was 0.09 percent at the end of May, unchanged from April and lower than 0.11 percent 12 months prior.
Fannie's effective duration gap increased to a positive two months from one month in May.