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Fannie’s New Business at Nearly 3-Year High

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Mortgage Daily

                                                 April 30, 2012

It’s been nearly three years since new business acquisitions at the Federal National Mortgage Association have been this high. Serious home-loan delinquency hasn’t increased for more than two years.

Volume was $95.310 billion during March at Fannie Mae, accelerating from $62.187 billion in February.

The last time that monthly volume was this high was in June 2009, when new business acquisitions amounted to $109.628 billion.

During March 2011, volume was $57.840 billion.

First-quarter 2012 secondary activity totaled $221.373 billion. Business grew from $207.4 billion during the final three months of 2011 and $189.5 billion in the first three months of 2011.

The total book of business at the Washington, D.C.-based company increased to $3.2037 trillion from $3.1802 trillion as of Feb. 29 and was $3.2261 trillion as of the same time last year.

The March 31 balance reflected a gross mortgage portfolio of $0.6917 trillion and $2.5121 trillion in outstanding mortgage-backed securities.

The improvement in residential performance at Fannie continued. Delinquency of at least 90 days was 3.67 percent, falling from 3.82 percent in February. In March 2011, home-loan delinquency was 4.27 percent.

The last time Fannie’s 90-day delinquency increased was in February 2010.

Multifamily delinquency of at least 60 days was also lower, falling to 0.37 percent from 0.43 percent as of Feb. 29. As of March 31, 2011, the multifamily rate was 0.64 percent.

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