Secondary activity at the Federal National Mortgage Association fell to the lowest level in 20 months, while delinquency hasn’t been this low in seven years.
Fannie Mae generated $35.948 billion in new business acquisitions during February. Volume at the government-sponsored enterprise dropped from $38.323 billion a month earlier.
The last time that new business has been this slow at the Washington-based secondary mortgage lender was back during
June 2014, when volume totaled $35.631 billion, according to historical data.
The latest operational metrics were included Fannie’s Monthly Summary February 2016.
In
February 2015, there were $38.463 billion in new business acquisitions.
Year-to-date 2016 activity amounted to $74.271 billion.
As of Feb. 29, 2016, the total book of business was $3.0980 trillion. Fannie trimmed its book from $3.0970 trillion a month earlier and reduced it from $3.1214 trillion a year earlier.
The components of its book consisted of $2.7608 trillion in outstanding mortgage-backed securities and other guarantees and an $0.3372 trillion gross mortgage portfolio.
Delinquency of at least 90 days on Fannie’s single-family book finished February at 1.52 percent.
Delinquency was
better than its been in any month been since July 2008, when the rate was 1.45 percent — the highest on record at the time based on data back to 2001.
Serious residential delinquency was 1.55 percent at the end of January and 1.83 percent at the same point in 2015.
On it multifamily loans, delinquency of at least 60 days was 0.07 percent, a basis point better than as of Jan. 31, 2016, and also as of Feb. 28, 2015.
