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Delinquency Improves as Fannie’s New Business Down

New business at the Federal National Mortgage Association fell to the slowest pace since last summer. Improvement continued, however, with loan performance.

Operational data indicates that
there were $39.651 billion in new business acquisitions during the month of January.

Secondary mortgage activity down shifted from December, when new business acquisitions totaled $43.247 billion.

Secondary activity was last this slow in August 2014, when volume was $37.670 billion.

The Washington-based company improved upon January 2014, when business volume was $30.734 billion.

The total book of business finished January 2015 at $3.1216 trillion, more than $3.1241 trillion at the end of December.

Fannie’s book stood at $3.1553 trillion as of Jan. 31, 2014.

An $0.4145 trillion gross mortgage portfolio made up part of the book, while the rest consisted of $2.7071 trillion in outstanding mortgage-backed securities and other guarantees.

There was no stopping the decline in 90-day residential delinquency, which
moved down 3 basis points from a month earlier to 1.86 percent as of Jan.31.

Serious delinquency stood at 2.33 percent as of a year earlier.

The last time that the 90-day delinquency rate was this low was when it came in at 1.72 percent in September 2008.

Multifamily delinquency of at least 60 days finished January at 0.07 percent, 2 BPS higher than as of the end of last year, and 3 BPS lower than as of the same point last year.

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