Serious mortgage delinquency on loans backed by the Federal National Mortgage Association tumbled to the lowest level in 11 years. Monthly business also improved.
As of Aug. 31, Fannie Mae’s total book of business was $3.2669 trillion. Comprising the total was a $0.2212 trillion investment portfolio and $3.0458 trillion in mortgage-backed securities and other guarantees.
The government-controlled enterprise
reported $49.011 billion in new business acquisitions. Activity ascended from $45.751 billion the prior month. But business fell from a year prior, when Fannie’s secondary volume was $50.579 billion.
For the first-eight months of this year, new business acquisitions amounted to $344.064 billion.
August ended with a 90-day single-family delinquency rate of 0.82 percent.
It was the lowest rate of serious mortgage delinquency since September 2007, when the rate was 0.78 percent.
The residential rate was 0.88 percent a month earlier and 0.99 percent a year earlier.
Fannie’s multifamily delinquency of at least 60 days was 0.08 percent as of the close of August. The rate slipped from 0.09 percent but was worse than 0.04 percent on the same date in 2017.