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Signs of Strength at Fannie

Secondary activity jumped by more than half last month at the Federal National Mortgage Association, while the company’s managed loan portfolio increased by more than $30 billion. Residential and apartment late payments, however, have yet to show an improvement.

Fannie Mae reported today that new business acquisitions were $82.9 billion during March. Volume climbed from February’s $53.6 billion to the highest level in eight months.

Secondary purchases were $92.8 billion in March 2009.

First-quarter activity amounted to $191.4 billion, higher than the fourth-quarter 2009’s $173.8 billion and the first-quarter 2009’s $175.4 billion.

The Washington, D.C.-based company said its total book of business climbed to $3.2634 trillion on March 31 from $3.2296 trillion three months earlier. The March 31 total included an $0.7648 trillion gross mortgage portfolio and $2.4986 trillion in outstanding mortgage-backed securities.

Fannie reports delinquency on a one-month lag.

In February, residential delinquency of at least 90 days climbed to a record 5.59 percent from 5.52 percent on Jan. 31 and 2.96 percent on Feb. 28, 2009. Delinquency, however, was likely to have fallen during March based on figures already reported for the month by Fannie’s government-controlled cousin, Freddie Mac.

Multifamily delinquency of at least 60 days rose to 0.73 percent in February from 0.69 percent in January and 0.32 percent a year prior.

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