As serious mortgage delinquency fell to the lowest level since last year at the Federal National Mortgage Association, new business jumped to the second-highest level this year.
Fannie Mae disclosed in its monthly summary that its total book of business ended May at $3.2405 trillion. The balance grew from $3.2355 trillion a month earlier and $3.1678 trillion a year earlier.
Most recently, the Washington-based organization’s book of business was comprised of an $0.2224 trillion mortgage portfolio and
$3.0181 trillion in outstanding mortgage-backed securities and other guarantees.
The report indicated that $42.138 billion in new business acquisitions were completed — the most since January, when secondary activity came to $45.513 billion.
Fannie generated $37.080 billion in new business acquisitions in April and $43.632 billion in May 2017. During the first-five months of this year, volume amounted to $203.107 billion.
Ninety-day single-family delinquency as of May 31, 2018, of 1.03 percent was the best rate since it was 1.01 percent in October 2017. Serious mortgage delinquency was 1.09 percent at the end of April and 1.04 percent as of the same date last year.
At 0.13 percent, multifamily delinquency was unchanged from the prior month and worse than 0.04 percent a year prior.
