Mortgage Daily Logo
mortgage news from industry experts

Serious Delinquency Soars at Fannie

Serious Delinquency Soars at Fannie$72.6 billion May volume

June 29, 2009

By staff

Fannie Mae saw a jump in new monthly business. But serious residential delinquency climbed to a new high, while multifamily delinquency has quadrupled over the past year.

Business acquisitions rose to $72.6 billion in May from the prior month’s $57.6 billion, a monthly summary from the Washington, D.C.-based firm indicated. A year prior, volume was $69.3 billion.

Business contrasted that of secondary rival Freddie Mac, which reported May purchases and issuances of $50.2 billion compared to $58.1 billion in April and $65.1 billion a year prior.

From January through May, Fannie’s volume totaled $305.6 billion.

Fannie’s total book of business ended May at $3.150 trillion, higher than $3.137 trillion on April 30. The book of business included an $0.790 trillion gross mortgage portfolio and $2.360 trillion in outstanding mortgage-backed securities.

Residential delinquency of at lest 90 days — which already stood at a record 3.15 percent in the prior report — shot up to 3.42% as of April 30. Late payments, reported on a one-month lag, were just 1.22 percent in April 2008.

Multifamily delinquency rose 2 basis points from March to 0.36 percent at the end of April. But compared to April 2008, apartment delinquency was up 300 percent.

Fannie Mae profile
next story

back to current headlines



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