After improving in July, business eased at Fannie Mae.
New business acquisitions were $65.0 billion during August, the Washington, D.C.-based secondary lender reported today. Volume was off from $66.4 billion in July but way up from $49.1 billion acquired in September 2006.
Commitments to purchase reportedly jumped nearly $10 billion to $44.3 billion on Aug. 31 -- potentially indicating a boost in business next month.
Fannie said its book of business was $2.734 trillion at the end of August, reflecting a mortgage portfolio balance of $0.729 trillion and guaranteed mortgage-backed securities outstanding of $2.005 trillion.
Serious residential delinquency, where borrowers are at least three months past due, was up for the second consecutive month to 0.68 percent in July, according to the report. Serious multifamily delinquency edged up in July to 0.10 percent.
The duration gap was one month in August, unchanged from July.