Mortgage Daily Logo
mortgage news from industry experts

Purchases, Delinquency Improve at Fannie

Purchases, Delinquency Improve at Fannie

May business volume $74.6 billion

June 16, 2004

By staff

Along with increased business volume for the third month in a row, Fannie Mae also reported slightly improved delinquency rates on its mortgage portfolio.

The secondary lender announced last month’s business volume totaled $74.6 billion, which is up slightly from April’s $73.8 billion. However, the figure is way off the $129.0 billion reported a year ago when mortgage rates were approaching record lows.

May’s business volume consisted of $47.9 billion in mortgage-backed securities (MBS) acquired by others and portfolio purchases of $26.7 billion, the Washington, D.C.-based company reported.

Fannie’s $2.2 trillion book of business consisted of a $0.9 trillion gross mortgage portfolio and $1.3 trillion in outstanding MBS.

The mortgage portfolio’s duration gap reportedly averaged positive three months, unchanged from April. A positive number indicates that incoming cash flows are stronger than outgoing payments.

The industry giant said the delinquency rate — reported on a one-month lag — for conventional single-family mortgages slipped two basis points from March to 0.56%, while for multifamily mortgages, it edged down one basis point to 0.16%.

Fannie’s delinquency rate has reportedly not increased since the beginning of the year. That seems to be the case for the industry as well — delinquencies lowered nationwide during the first quarter, according to the Mortgage Bankers Association of America.

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