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April Activity Worse at Fannie

April Activity Worse at Fannie$57.6 billion April issuance

June 1, 2009

By staff

Monthly business volume eased at Monthly business volume eased at Fannie Mae, while delinquency ventured further into record territory.New business acquisitions were $57.6 billion during April at the Washington, D.C.-based firm, tumbling from $92.8 billion the prior month and $65.9 billion a year earlier, according to a monthly summary released Friday. Volume totaled $233.0 billion from Jan. 1 through April 30.

April issuance of mortgage-backed securities was $56.0 billion, down from March’s $87.8 billion and April 2008’s $58.6 billion, according to the secondary lender. A report from eMBS Inc. indicated May issuances shot up to $127.0 billion.

Fannie said its book of business ended April at $3,137.0 billion, lower than $3,144.0 billion at the end of March but higher than $2,986.0 billion on April 30, 2008. The book of business included a gross mortgage portfolio of $770.1 billion and outstanding MBS of $2,366.9 billion.

The government-run company said residential delinquency of at lest 90 days climbed to 3.15 percent at the end of March from 2.96 percent on Feb. 28 and 1.15 percent at the end of March 2008.

Residential delinquency, which Fannie reports on a one-month lag, was at the highest level on record.

Multifamily delinquency of at least 60 days, also reported on a one-month lag, rose to 0.34 percent on March 31 from 0.32 percent on Feb. 28 and 0.09 percent on March 31, 2008.

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