Serious mortgage delinquency at the Federal National Mortgage Association has descended to depths not seen since before it collapsed.
New business acquisitions during December at the secondary mortgage lender were down less than one percent versus the previous month to $36.868 billion.
The details, along with other performance metrics, were reported in a monthly operational summary from the Washington-based company.
Volume also diminished versus the final month of 2014, when new business acquisitions totaled $43.247 billion.
Full-year 2015 secondary activity amounted to $515.541 billion, gaining over 2014, when there was $433.838 billion in new business.
Fannie reported a total book of business of $3.0994 trillion as of the end of 2015, off from $3.0999 trillion at the end of November and $3.1241 trillion at the end of 2014.
The Dec. 31, 2015, total consisted of an $0.3451 trillion gross mortgage portfolio and $2.7543 trillion in outstanding mortgage-backed securities and other guarantees.
Residential delinquency of at least 90 days at the Washington-based company closed out 2015 at 1.55 percent — lower than it’s been any month since July 2008, when the rate was 1.45 percent (at the time the highest rate in at least seven years).
Fannie was thrown into conservatorship by its regulator, the Federal Housing Finance Agency, in September 2008.
Serious delinquency closed out November 2015 at 1.58 percent and finished 2014 at 1.89 percent.
At 0.07 percent, 60-day delinquency on multifamily loans was no different than as of Nov. 30.
But delinquency on apartment loans has risen since Dec. 31, 2014, when the 60-day rate was 0.05 percent.
