Mortgage Daily for Phones

home | full site | advertise | logout

full website version of this story

New Business and Delinquency Drop at Fannie

Secondary activity declines 7% in August

Sept. 30, 2013

By Mortgage Daily staff

After falling to a nearly five-year low, residential delinquency retreated again at the Federal National Mortgage Association. New business also retreated at the government-controlled enterprise.

Secondary activity at the Washington, D.C.-based company totaled $68.266 billion in August, according to monthly operational data released Monday.

New business acquisitions were off from the previous month, when Fannie Mae generated $73.387 billion in volume.

The drop was more dramatic when compared to the same month last year, with year-earlier volume coming in at $86.038 billion.

New business acquisitions during the first eight months of 2013 totaled $609.616 billion.

The secondary lender said its total book of business ended August at $3.1669 trillion. The total was off from $3.1691 trillion as of July 31 and $3.1921 trillion as of Aug. 31, 2012.

Fannie's most recent total included a $0.5313 trillion gross mortgage portfolio and $2.6356 trillion in outstanding mortgage-backed securities.

Ninety-day residential delinquency continued to drop, falling to 2.61 percent -- the lowest level of serious delinquency since December 2008's rate of 2.42 percent.

Home-loan delinquency was 2.70 percent a month earlier and 3.44 percent a year earlier.

On the commercial real estate side, 60-day delinquency was unchanged from July at 0.18 percent and lower than 0.25 percent in August 2012.

Fannie Mae profile

next story

back to current headlines

mobile home | subscribe | contact | about

Copyright © 2014 Mortgage Daily, D a l l a s