After falling to the lowest level in more than a decade, new business at the Federal National Mortgage Association moved higher. Loan performance continued to improve.
The Washington, D.C.-based company reported that $30.018 billion in new business acquisitions were made during April.
Activity picked up from a month earlier, when the total was just $26.539 billion — the slowest month since at least 2000 based on the oldest available data maintained by Mortgage Daily.
Secondary activity, however, was nowhere near the $77.298 billion in new business acquisitions reported for April 2013.
During the first four months of 2014, volume amounted to $116.622 billion.
Fannie Mae finished April with a $3.1399 trillion total book of business. The balance declined from $3.1470 trillion at the end of the previous month and $3.1778 trillion at the same point in 2013.
The latest total reflected a gross mortgage portfolio of $0.4617 trillion and $2.6781 trillion in outstanding mortgage-backed securities.
Moving on to delinquency, the 90-day rate on residential loans improved 6 basis points from March to 2.13 percent. The rate was 80 BPS better than as of April 30, 2013.
Multifamily delinquency of at least 60 days inched up 1 basis point to 0.11 percent but stood well below the 0.36 percent rate in place at the same point last year.
