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Solid Month at Fannie Mae

Mortgage News

New business picked up at the Federal National Mortgage Association, while the secondary lender’s book of business increased and serious home loan delinquency dropped to the lowest level in more than four years.

The Washington, D.C.-based firm reported $77.298 billion in new business acquisitions for April. Business strengthened from the prior month, when volume amounted to $71.448 billion.

Secondary activity also improved from the same month last year, when new business acquisitions totaled $52.470 billion.

During the first four months of 2013, volume totaled $317.341 billion.

Fannie Mae increased its total book of business to $3.1778 trillion from $3.1772 trillion as of March 31. At the same point last year, the total was $3.1815 trillion.

The most recent book of business reflected $2.5899 trillion in outstanding mortgage-backed securities and a gross mortgage portfolio of $0.5880 trillion.

The residential 90-day delinquency rate continued to fall, coming in at 2.93 percent. The rate was 3.02 percent a month earlier and 3.63 percent as of April 30, 2012.

The last time residential delinquency was this low was when it stood at 2.77 percent in January 2009, while delinquency hasn’t risen since February 2010, when it was 5.59 percent

Multifamily delinquency of at least 60 days also improved, falling to 0.36 percent from 0.39 percent at the end of March. But the multifamily rate was up a single basis point from April 2012.

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