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New Business Soars at Fannie Mae

New business was up by more than a fifth last month the Federal National Mortgage Association to the highest level in over three years.

The Washington-based secondary mortgage lender closed out September 2016 with a total book of business of $3.1233 trillion.

The balance grew from $3.1130 trillion at the end of the previous month. It was also up from $3.1036 trillion as of a year previous.

Fannie Mae reported the statistics, along with other operational metrics, in its Monthly Summary September 2016.

Last month’s total consisted of an $0.3065 trillion investment portfolio and $2.8167 trillion in outstanding mortgage-backed securities and other guarantees.

New business acquisitions totaled $71.420 billion last month —
the biggest month for the government-controlled enterprise since July 2013, when the total came to $73.387 billion.

Secondary activity was $59.044 billion in August 2016 and $45.238 billion in September 2015.

During the first-nine months of 2016, new business acquisitions came to $444.466 billion.

Fannie reported 30-day single-family delinquency of 1.24 percent as of Sept. 30, 2016 — the lowest level since
it was 1.22 percent as of April 30, 2008, and the same as it was a month earlier. A year earlier, serious mortgage delinquency stood at 1.59 percent.

Multifamily delinquency of at least 60 days was 0.07 percent, no different than as of Aug. 31, 2016. Multifamily delinquency was 0.05 percent as of Sept. 30, 2015.

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