Mortgage Daily Logo
mortgage news from industry experts

Mortgage Delinquency Lowest Since July 2008 at Fannie

Serious mortgage delinquency at the Federal National Mortgage Association has descended to depths not seen since before it collapsed.

New business acquisitions during December at the secondary mortgage lender were down less than one percent versus the previous month to $36.868 billion.

The details, along with other performance metrics, were reported in a monthly operational summary from the Washington-based company.

Volume also diminished versus the final month of 2014, when new business acquisitions totaled $43.247 billion.

Full-year 2015 secondary activity amounted to $515.541 billion, gaining over 2014, when there was $433.838 billion in new business.

Fannie reported a total book of business of $3.0994 trillion as of the end of 2015, off from $3.0999 trillion at the end of November and $3.1241 trillion at the end of 2014.

The Dec. 31, 2015, total consisted of an $0.3451 trillion gross mortgage portfolio and $2.7543 trillion in outstanding mortgage-backed securities and other guarantees.

Residential delinquency of at least 90 days at the Washington-based company closed out 2015 at 1.55 percent — lower than it’s been any month since July 2008, when the rate was 1.45 percent (at the time the highest rate in at least seven years).

Fannie was thrown into conservatorship by its regulator, the Federal Housing Finance Agency, in September 2008.

Serious delinquency closed out November 2015 at 1.58 percent and finished 2014 at 1.89 percent.

At 0.07 percent, 60-day delinquency on multifamily loans was no different than as of Nov. 30.

But delinquency on apartment loans has risen since Dec. 31, 2014, when the 60-day rate was 0.05 percent.

Popular posts

How Long Does It Take to Refinance a Mortgage
How Long Does It Take to Refinance a Mortgage

So, you’re interested in refinancing your mortgage. Maybe you want some extra capital to do that home project you’ve always dreamed of, interest rates are nearing record lows, or you want to start consolidating debt. Regardless of the motivation behind the refinance,...

How Does Refinancing a Mortgage Work
How Does Refinancing a Mortgage Work

A home purchase is considered an investment, and a robust one at that. Savvy owners are constantly looking for new ways to reduce debt, save money, pay less in interest, and ultimately build equity. Refinancing is one way to leverage your investment and do just that....

What Does It Mean to Refinance Your Home
What Does It Mean to Refinance Your Home

You can think of refinancing your mortgage as a debt redo. Essentially, you’ll swap out the existing loan for a new one - ideally with better terms and conditions. Only this time it could help you save money on high mortgage payments, rather than just borrow it....

Setting up the Utilities in My New House
Setting up the Utilities in My New House

All the tedious, time-consuming home closing documents have been signed, sealed, and delivered. Your belongings are packed into what seems like a million boxes and you have a solid plan to haul all your existing furniture to the new place. Just as your boxes and...

When Is My First Mortgage Payment Due?
When Is My First Mortgage Payment Due?

Navigating your way through a brand new mortgage loan can be a difficult task, especially for first time homeowners. After handing over a large sum of money for the down payment and closing costs, it’s important to pay attention to the timing of your first mortgage...


Don’t worry, we don’t spam

calculate your monthly mortgage payment

Related Topics

Helpful Links

Daily mortgage rate trends

Best mortgage lenders

First-time homebuyers programs by state

Loan limits by state

Types of mortgages

APR vs interest rate

Understanding PMI

Related Posts