After falling to the lowest level in over eight years, delinquency rose for the first time in almost seven years at the Federal National Mortgage Association.
The Washington-based organization reported in its
monthly summary that its total book of business concluded November 2016 at $3.1376 trillion.
Fannie Mae’s book of business expanded from $3.1297 trillion as of one month earlier and has also grown from $3.0999 trillion as of one year earlier.
Last month’s total consisted of
an $0.2895 trillion gross mortgage portfolio and $2.8482 trillion in outstanding mortgage-backed securities and other guarantees.
The secondary lender reported
$64.514 billion in new business acquisitions, slowing from $66.774 billion in October. But activity significantly accelerated from $37.041 billion in November 2015.
For all 11 months that have elapsed so far this year, new business acquisitions amounted to $575.754 billion.
Single-family delinquency of at least 90 days was 1.23 percent as of Nov. 30, 2016. Serious delinquency rose from 1.21 percent at the end of the previous month — when delinquency fell to the lowest level since March 2008. It was the first increase since
February 2010.
The 90-day rate was 1.58 percent as of Nov. 30, 2015.
On Fannie’s multifamily loans, the 60-day delinquency rate was 0.06 percent, the same as of Oct. 31, 2016. At the same point last year, multifamily delinquency was 0.07 percent.
