The last time serious residential delinquency was this low at Fannie Mae was in 2008. New business inched higher.
At $73.387 billion, new business acquisitions during July at the secondary lender were slightly higher than the previous month’s $72.574 billion.
Activity was off, however, from $77.104 billion in the same month during 2012.
Secondary activity at the Washington, D.C.-based enterprise totaled $541.350 billion during the first seven months of 2013.
Fannie’s massive total book of business declined to $3.1691 trillion from $3.1736 trillion as of June 30 and $3.1872 trillion as of July 31, 2012.
The most recent book included an $0.5470 trillion investment portfolio and $2.6221 trillion in outstanding mortgage-backed securities.
Fannie’s 90-day residential delinquency hadn’t risen since February 2010, when it stood at 5.59 percent, and July was no exception.
The operational summary indicated that serious delinquency declined to 2.70 percent — the lowest level since it was 2.42 percent in December 2008.
Residential delinquency fell from 2.77 percent a month earlier and 3.50 percent a year earlier.
On the commercial real estate side, Fannie’s multifamily delinquency of at least 60 days fell 10 basis points to 0.18 percent in July. The rate was 8 BPS better than in July 2012.
