Mortgage Daily Logo
mortgage news from industry experts

Weak Performance at Fannie

New business eased at Fannie Mae, and home-loan delinquency ended a long string of declines. But performance on apartment loans managed a slight improvement.

At $39.4 billion, July’s new business acquisitions were off from $41.4 the prior month.

The results were outlined in a monthly summary from the Washington, D.C.-based company.

In July 2010, volume came in at $53.3 billion.

From Jan. 1 to July 31, new business acquisitions amounted to $345.8 billion.

The secondary lender’s total book of business closed out July at $3.1920 trillion. The balance slipped from $3.2014 trillion at the end of June and $3.2058 trillion at the same time in 2010.

The July 31 book of business included a gross mortgage portfolio of $0.7280 trillion and outstanding mortgage-backed securities with a balance of $2.4641 trillion.

Fannie said that residential delinquency of at least 90 days was unchanged from June at 4.08 percent. But defaults declined from 4.82 percent as of July 31, 2010.

Prior to July, delinquency had been down 16 months in a row.

Multifamily delinquency of at least two months was 0.45 percent, slipping a basis point from a month earlier and down significantly from 0.74 percent a year prior.

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