For the second quarter in a row, the issuance of multifamily securities was lower at the Federal National Mortgage Association. Even re-securitizations were down.
Third-quarter multifamily issuance at the Washington, D.C.-based company amounted to $5.7 billion, a news release Thursday said.
Business sank from the previous period, when issuance of multifamily mortgage-backed securities was $7.6 billion.
It was the second consecutive quarter of declines for Fannie Mae.
Activity also dropped from the third-quarter 2012, when issuance totaled $8.5 billion.
From Jan. 1 through Sept. 30, multifamily MBS issuance worked out to $21.5 billion.
The secondary lender said that it additionally re-securitized $1.7 billion in DUS MBS through its Fannie Mae Guaranteed Multifamily Structures program during the third quarter.
Prior-quarter re-securitizations were $3.0 billion, while year-earlier volume was $4.0 billion.