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Fannie Turns in Strong Performance

Mortgage News

It was the best month in secondary volume that Fannie Mae had during the past five months. The company was also able to boast about lower delinquency.

The Washington, D.C.-based firm reported Friday $44.3 billion in new business acquisitions during August. The last time activity was this strong was in March, when the total was $57.8 billion.

Business climbed from $39.4 billion a month earlier. But activity was down from year earlier when the level of activity reached $57.8 billion.

Year-to-date Aug. 31, new business acquisitions totaled $390.7 billion.

Fannie’s total book of business fell to $3.1870 trillion from July’s $3.1920 trillion. The balance was $3.2023 trillion in August 2010.

Last month’s book of business included a gross mortgage portfolio of $0.7255 trillion and $2.4615 trillion in outstanding mortgage-backed securities.

Delinquency was also better at the government-controlled enterprise, with the 90-day residential rate slipping to 4.03 percent from 4.08 percent in July. Late payments have tumbled 63 basis points from August of last year.

In addition, multifamily delinquency of at least 60 days improved to 0.43 percent in August from the previous month’s 0.45 percent and 0.66 percent in the same month last year.

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