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Fannie Business Sinks

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Secondary marketing activity at Fannie Mae tumbled more than a fifth last month.

February new business acquisitions were $57.8 billion, operational data released Wednesday indicated. Business sank from $73.8 billion a month earlier but was better than $53.6 billion a year earlier.

The 22 percent month-over-month decline contrasts a slight improvement reported by rival Freddie Mac.

So far this year, Fannie’s volume totals $131.7 billion.

The Washington, D.C.-based company’s gargantuan book-of-business climbed to $3.2193 trillion as of Feb. 28 from January’s $3.2212 trillion. The total stood at $3.2296 trillion on Jan. 31, 2010.

The most recent total reflected a gross mortgage portfolio of $0.7664 trillion and outstanding mortgage-backed securities of $2.4529 trillion.

Fannie reports delinquency on a one-month lag.

As of Jan. 31, residential delinquency of at least 90 days improved to 4.45 percent from 4.48 percent at the end of last year. In January 2010, the late-payment rate was higher at 5.52 percent.

Also lower was 60-day multifamily delinquency, which fell to 0.69 percent at the end of January from 0.71 percent a month earlier. Apartment delinquency was unchanged from January of last year.

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