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Fannie Multifamily Delinquency at 6-Year Low

The delinquency rate on apartment loans at the Federal National Mortgage Association fell to the lowest level in more than six years. Even serious delinquency on residential loans tumbled to a nearly six-year low.

August at the Washington-based company saw $37.670 billion in new business acquisitions.

Secondary activity slowed from the previous month’s $39.899 billion and plunged from $68.266 billion a year previous.

August 2014 activity brought year-to-date business acquisitions to $260.233 billion.

Fannie Mae reduced its total book of business to $3.1169 trillion as of the end of August from $3.1274 trillion in the prior report and $3.1669 trillion in the year-earlier report.

The Aug. 31, 2014, total included a gross mortgage portfolio of $0.4431 trillion and $2.6738 trillion in outstanding mortgage-backed securities and other guarantees.

At 1.99 percent, 90-day residential delinquency in August was at the lowest level since October 2008’s 1.89 percent.

Home loan delinquency was 2.00 percent a month earlier and 2.61 percent a year earlier.

Multifamily delinquency of at least 60 days slipped to 0.09 percent from 0.10 percent in July and 0.18 percent in August 2013.

Multifamily delinquency was last this low in May 2008, before the U.S. economic system erupted into a financial crisis.

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