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Fannie’s Business, Delinquency Down

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Mortgage Daily

                                                 February 28, 2011

New business was worse at the Federal National Mortgage Association. But delinquency was better.

January new business acquisitions were $73.8 billion, the Washington, D.C.-based company reported in its monthly operational report.

Volume tumbled from December’s $87.6 billion but was much better than $55.0 billion acquired during January 2010.

Fannie Mae’s total book of business eased to $3.2212 trillion from $3.2240 trillion the month before. The book stood at $3.2269 trillion on Jan. 31, 2010.

Included in the secondary lender’s book last month was a gross mortgage portfolio of $0.7771 trillion and $2.4442 trillion in outstanding mortgage-backed securities.

Residential delinquency of at least 90 days, which Fannie reported on a one-month delay, fell to 4.48 percent as of the end of last year from 4.50 percent at the end of November. On Dec. 31, 2009, the late-payment rate was 5.38 percent.

Multifamily delinquency of at least two months also moved lower — to 0.71 percent from 0.72 percent. A year earlier the apartment default rate was 0.63 percent.

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