Home loan delinquency has nearly doubled during the past year at Fannie Mae and sits at an all-time high. Secondary marketing activity, meanwhile, was lower.
February’s new business acquisitions totaled $53.6 billion, the Washington, D.C.-based company reported today. Business fell from $55.0 billion the prior month and $53.8 billion the prior year. Year-to-date volume was $108.5 billion.
As of Feb. 28, the secondary lender’s book-of-business was $3.2296 trillion, higher than $3.2269 trillion a month earlier. The total reflected an $0.7259 trillion gross mortgage portfolio and $2.5038 trillion in outstanding mortgage-backed securities.
Residential delinquency of at least 90 days, reported on a one-month lag, climbed to a record 5.52 percent in January from 5.38 percent at the end of the prior month. Late payments at the government-controlled enterprise stood at just 2.77 percent on Jan. 31, 2009.
Apartment delinquency of at least 60 days finished January at 0.69 percent, higher than 0.63 percent in December and 0.27 percent in January 2009.
