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

Business Eases, Delinquency Down at Fannie

New business acquisitions off 1%

Aug. 1, 2012

By staff

Monthly secondary marketing activity slipped at the Federal National Mortgage Association, though business has still maintained a healthy pace and is headed up. Loan performance continued a stellar two-year run of no increases in late payments.

June's new business acquisitions drifted down to $70.572 billion from the previous month's $71.574 billion, according to monthly operating data.

But Fannie Mae's volume of new business acquisitions flew past the $41.431 billion in activity generated in June 2011.

In July 2012, fixed-rate issuances by Fannie jumped to $67.920 billion from June's $61.903 billion, according to data from eMBS.

During the three months ended June 30, 2012, Fannie said secondary activity amounted to $194.616 billion, off from the first quarter's $221.4 billion. The number was only $116.8 billion during the same three months last year.

First-half 2012 new business acquisitions totaled $415.989 billion.

Also slipping was from May 31 was the total book of business, which eased to $3.1834 trillion as of the end of June from $3.1842 trillion. The balance was $3.2014 trillion a year earlier.

The latest total book of business reflected a gross mortgage portfolio of $0.6728 trillion and outstanding mortgage-backed securities of $2.5106 trillion.

Residential borrowers who were at least 90 days past due accounted for 3.53 percent of the Washington, D.C.-based company's home loans. It was the lowest rate since April 2009, when the delinquency rate was 3.42 percent.

The 90-day rate was 3.57 percent as of the end of May and 4.08 percent at the same point last year.

As previously noted by Mortgage Daily, serious delinquency has not increased since February 2010, when it was 5.59 percent.

Multifamily delinquency continued a six-month run, with the 60-day rate declining to 0.29 percent from May's 0.31 percent. In June 2011, the multifamily delinquency rate was 0.46 percent.

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