August was the second-best month this year for new business at Fannie Mae. The secondary lender’s book of business has expanded two months in a row, past-due payments on home loans continued lower and delinquency on apartment loans was down for the ninth consecutive month.
New business acquisitions climbed to $86.038 billion from $77.104 billion in July, according to monthly operational data from the Washington, D.C.-based company.
March was the only other month during 2012 that was stronger, with $95.310 billion in activity.
Volume nearly doubled from August 2011, when Fannie’s new business acquisitions totaled just $44.306 billion.
Data from eMBS indicates that activity was up another 6 percent during September.
From Jan. 1 through Aug. 31, Fannie’s secondary activity totaled $579.131 billion.
The total book of business closed out August at $3.1921 trillion, growing from $3.1872 trillion a month earlier — when the total also climbed. During the same month in 2011, the balance was $3.1870 trillion.
Included in the latest number was a gross mortgage portfolio of $0.6608 trillion, which continued an ongoing runoff and fell from $0.6670 trillion one month earlier. The other component was outstanding mortgage-backed securities, which totaled $2.5313 trillion, growing from $2.5203 trillion in July.
Residential 90-day delinquency declined to 3.44 percent — a level not seen since April 2009’s rate of 3.42 percent. The rate fell from 3.50 percent in July and 4.03 percent in the same month last year.
Multifamily 60-day delinquency was also lower, falling to 0.25 percent from 0.26 percent. Fannie’s multifamily rate was 0.43 percent in August 2011.
Late payments on apartment buildings have been lower each month since November 2011’s rate of 0.60 percent.
