Mortgage Daily Logo
mortgage news from industry experts

5-Year Low for New Business, Delinquency at Fannie

It’s been five years since new secondary activity at the Federal National Mortgage Association has been this slow. It’s been even longer since delinquency was this low

In January, Fannie Mae had $30.734 billion in new business acquisitions, according to a monthly operational report.

Business was down from December, when volume totaled $39.695 billion, and January 2013, when secondary activity was $88.416 billion.

The last time volume was this slow was in January 2009, when new business acquisitions amounted to $28.829 billion.

The Washington, D.C.-based company reported a total book of business of $3.1553 trillion as of Jan. 31. The balance fell from $3.1647 trillion at the end of 2013 and $3.1856 trillion as of Jan. 31, 2013.

The most recent total included a gross mortgage portfolio of $0.4807 trillion and $2.6746 trillion in outstanding mortgage-backed securities.

Fannie said that delinquency of at least 90 days on its residential book was 2.33 percent, improving from 2.38 percent as of Dec. 31, 2013, and 3.18 percent as of Jan. 31, 2013.

Home loan delinquency sits at its lowest level since November 2008, when it was 2.13 percent, and hasn’t moved up since February 2010, when it stood at 5.59 percent.

On the commercial mortgage side, multifamily delinquency of at least 60 days was 0.10 percent in January, the same as a month earlier and way down from 0.35 percent a year earlier.

Prior to December, multifamily delinquency hadn’t been this low since May 2008, when the rate was 0.09 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