|
|
Business improved at Fannie Mae. But delinquency deteriorated.New business acquisitions were $631.4 billion last year, a monthly operational summary released today said. Volume eased from $746.1 billion in 2007.
Fourth-quarter 2008 business acquisitions were $113.3 billion, falling from the third quarter’s $126.9 billion and $203.4 billion in the fourth-quarter 2007. But during just December, volume was $48.4 billion — jumping from $29.7 billion in November. However, new business was a far cry from $73.4 billion a year earlier. The Washington, D.C.-based firm’s total book of business was $3.111 trillion on Dec. 31, up from $3.087 trillion on Nov. 30. Included in the book of business was a gross mortgage portfolio of $0.787 trillion and outstanding mortgage-backed securities of $2.324 trillion. Residential delinquency of at least 90 days, which Fannie reports on a one-month lag, was 2.13 percent at the end of November. Late payments were 1.89 percent in October and 0.90 percent at 12 months prior. Multifamily delinquency of at least 60 days was 0.25 percent on Nov. 30, higher than 0.21 percent on Oct. 31 and 0.08 percent a year earlier. The secondary lender’s duration gap was a positive one month in December compared to zero months in November. |
