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Fannie Volume, Delinquency Surge

Fannie Volume, Delinquency Surge$109.6 billion new business acquisitions in June

July 31, 2009

By staff

Monthly business volume at Fannie Mae improved to the highest level since 2003. But multifamily delinquency deteriorated to the worst level on record while residential delinquency climbed further into record territory.

During the second quarter, new business acquisitions were $239.8 billion, the Washington, D.C.-based company reported in its monthly summary yesterday. Volume jumped from $175.4 billion in the first quarter and $199.1 billion a year prior.

For just June, new business acquisitions were $109.6 billion — the highest volume since September 2003, when the secondary lender reported $145.6 billion in business.

Monthly volume jumped from $72.6 billion in May and $63.8 billion in June 2008.

Fannie’s massive book of business climbed to $3.1938 trillion on June 30 from $3.1499 trillion on May 31. The book of business included an $0.7926 trillion gross mortgage portfolio and outstanding mortgage-backed securities of $2.4012 trillion.

Residential delinquency of at least 90 days, reported on a one-month lag, climbed further into record territory — ending May at 3.68 percent. Late payments were 3.42 percent on April 30 and just 1.30 percent on May 31, 2008.

Multifamily delinquency finished May at 0.50 percent — the highest level on record based on data going back to 2001. A Fannie spokesman indicated multifamily was at its highest level in at least five years.

Multifamily late payments were 0.36 percent in April and 0.09 percent in June 2008.

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