New business at the Federal National Mortgage Association fell to the slowest pace since last summer. Improvement continued, however, with loan performance.
Operational data indicates that
there were $39.651 billion in new business acquisitions during the month of January.
Secondary mortgage activity down shifted from December, when new business acquisitions totaled $43.247 billion.
Secondary activity was last this slow in August 2014, when volume was $37.670 billion.
The Washington-based company improved upon January 2014, when business volume was $30.734 billion.
The total book of business finished January 2015 at $3.1216 trillion, more than $3.1241 trillion at the end of December.
Fannie’s book stood at $3.1553 trillion as of Jan. 31, 2014.
An $0.4145 trillion gross mortgage portfolio made up part of the book, while the rest consisted of $2.7071 trillion in outstanding mortgage-backed securities and other guarantees.
There was no stopping the decline in 90-day residential delinquency, which
moved down 3 basis points from a month earlier to 1.86 percent as of Jan.31.
Serious delinquency stood at 2.33 percent as of a year earlier.
The last time that the 90-day delinquency rate was this low was when it came in at 1.72 percent in September 2008.
Multifamily delinquency of at least 60 days finished January at 0.07 percent, 2 BPS higher than as of the end of last year, and 3 BPS lower than as of the same point last year.
