Fannie Mae announced a monthly decline in secondary loan purchases, though there was a healthy gain from a year earlier. Delinquency worsened, however.
New business acquisitions were $63.7 billion during November, the Washington, D.C.-based company reported today. Purchases fell from $66.3 billion in October but were well above $49.5 billion a year earlier.
Fannie said its total book of business ended November at $2.837 trillion. The components of the book of business were an $0.722 trillion gross mortgage portfolio and $2.115 trillion in outstanding mortgage-backed securities.
Residential loans delinquent at least 90 days represented 0.83 percent of the total number of the company's conventional single-family loans as of Oct. 31, rising from 0.78 percent on Sept. 30 and 0.62 percent a year earlier, according to the data. Delinquency is reported on a one-month delay.
The duration gap for the secondary lender was 1 month in November, unchanged from October.