Serious residential loan delinquency at the Federal National Mortgage Association dropped to the lowest level since it fell into conservatorship.
The Washington-based organization had a total book of business of $3.1297 trillion as of Oct. 31, according to its
monthly summary.
That was larger than $3.1233 trillion as of a month earlier. The book of business was also bigger than $3.1045 trillion as of a year earlier.
The most-recent total was comprised of an $0.3009 trillion gross mortgage portfolio and $2.8288 trillion in outstanding mortgage-backed securities and other guarantees.
Fannie Mae’s new business acquisitions totaled $66.774 billion during the most-recent month. Secondary activity declined from $71.420 billion in September. But business improved from $41.938 billion in October 2015.
From Jan. 1, 2016, through Oct. 31, new business acquisitions amounted to $511.240 billion.
On its single-family book of business, delinquency of at least 90 days was 1.21 percent as of the latest date — the lowest level of serious mortgage delinquency since
March 2008, when the rate was 1.15 percent.
Fannie was forced into conservatorship by the Federal Housing Finance Agency in September 2008.
The 90-day rate was 1.24 percent as of Sept. 30, 2016, and 1.58 percent as of Oct. 31, 2015.
Fannie reported multifamily 60-day delinquency of 0.06 percent as of the end of October 2016. The rate dipped a basis point from the prior month and a year prior.
