Serious residential delinquency at the Federal National Mortgage Association fell to the lowest level since before it was thrust into conservatorship. New secondary activity, however, was worse.
Fannie Mae’s new business acquisitions came in at $43.738 billion during May, according to monthly operational data.
Secondary activity dropped from the previous month, when $51.602 billion in new business acquisitions were transacted.
In the same month last year, business totaled $30.411 billion.
During the first five months of 2015, the Washington-based company generated $219.328 billion in new business.
As of May 31, 2015, Fannie’s total book of business was $3.1101 trillion. The total fell from $3.1171 trillion a month earlier and $3.1336 trillion a year earlier.
The latest total included an $0.3952 trillion gross mortgage portfolio and $2.7150 trillion in outstanding mortgage-backed securities and other guarantees.
Delinquency on Fannie Mae residential loans continued to diminish, falling three basis points from April 30 to 1.70 percent — the lowest serious delinquency rate since August 2008’s 1.57 percent.
Fannie was forced into conservatorship by the Federal Housing Finance Agency in September 2008.
Residential delinquency was 2.08 percent as of May 31, 2014.
At 0.06 percent, multifamily delinquency of at least 60 days was a basis point better than at the end of April. Multifamily delinquency was 0.10 percent in May 2014.
