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Fannie Outperforming Freddie by a Long Shot

For five consecutive months now, Fannie Mae has managed to increase its secondary activity, contrasting last month’s activity at rival Freddie Mac. Annual business, however, was lower at both firms. Fannie’s residential delinquency didn’t increase a single time last year, while late payments at Freddie have deteriorated each of the last several months.

Fannie’s December’s new business acquisitions were $79.907 billion, the Washington, D.C.-based behemoth reported in an operational summary report. Acquisitions grew from the prior month’s $69.097 billion.

The improvement contrasts secondary volume at Freddie, where activity fell to $30.713 billion from $38.072 billion in November.

Fannie’s monthly volume fell short of $87.632 in business acquisitions reported for the final month of 2010.

Full-year 2011 business acquisitions totaled $652.848 billion, sharply lower than $855.548 billion for all of 2010.

The government-controlled company reported an increase in its total book of business to $3.1845 trillion as of the end of December from $3.1774 trillion as of Nov. 30. But the portfolio stood below the $3.2240 trillion as of Dec. 31, 2010.

The year-end total reflected $2.4761 trillion in outstanding mortgage-backed securities and a gross mortgage portfolio of $0.7084 trillion.

Fannie reported 90-day residential delinquency of 3.91 percent, falling 9 basis points from November.

At Freddie, though, residential delinquency has been higher each of the past four months.

Fannie’s home-loan delinquency rate was 4.48 percent in December 2010.

Multifamily delinquency of at least 60 days slipped to 0.59 percent as of the end of last year from 0.60 percent in November and was 0.71 percent at the end of 2010.

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