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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's Business Up, Book Grows and Delinquency Down

New business acquisitions up 9% in July

Aug. 31, 2012

By MortgageDaily.com staff


Thanks to a brisk level of new secondary activity, the multi-trillion-dollar book of business at the Federal National Mortgage Association grew last month. Residential delinquency fell to its lowest level in more than three years, and late payments on apartment loans declined for the eighth consecutive month.

In July, new business acquisitions totaled $77.104 billion, according to monthly operational data release by the secondary lender. Activity strengthened from $70.572 billion acquired in June.

Increased business at Fannie Mae is in stark contrast to Freddie Mac, where purchases and issuances sank in July to $32.549 billion from $44.103 billion in the previous month.

Fannie, like its government-controlled rival Freddie, improved business substantially from July 2011 -- when new business acquisitions were $39.426 billion.

During the first seven months of 2012, business at the Washington, D.C.-based company totaled $493.093 billion.

While Freddie saw its total mortgage portfolio slip below $2 trillion for the first time since August 2007, Fannie pushed its total book of business up to $3.1872 trillion in July from $3.1834 trillion as of June 30. Fannie's total was $3.1920 trillion at the same point last year.

Included in Fannie's July 31 total was a gross mortgage portfolio of $0.6670 trillion and $2.5203 trillion in outstanding mortgage-backed securities.

A new three-year low was established for residential delinquency of at least 90 days, which fell to 3.50 percent from 3.53 percent in June and 4.08 percent in July 2011.

The delinquency rate hasn't been this low since 3.42 percent in April 2009.

Also improving again was 60-day multifamily delinquency to 0.26 percent in July from 0.29 percent a month earlier and 0.45 percent a year earlier. The last time multifamily delinquency increased was in November 2011, when the 60-day rate was 0.60 percent.

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