Secondary activity at the Federal National Mortgage Association plunged to the lowest level in a year. Delinquency, meanwhile, reached another post-crisis low.
The Washington-based organization reported in its monthly summary for last month a
total book of business of $3.1522 trillion as of Feb. 28, 2017.
An increase was recorded from one month earlier, when the total was $3.1502 trillion, and from one year earlier, when the book stood at $3.0980 trillion.
Last month’s total consisted of
a $0.2688 trillion gross mortgage portfolio and $2.8834 trillion in outstanding mortgage-backed securities and other guarantees.
Fannie generated $39.748 billion in new business acquisitions during the most-recent month — the slowest month since February 2016 when volume was $35.948 billion. In January 2017, secondary activity came to $55.271 billion.
Year-to-date 2017 business acquisitions amounted to $95.019 billion.
Single-family 90-day delinquency concluded February 2017 at 1.19 percent — the lowest rate since
since March 2008 when it was 1.15 percent. Serious mortgage delinquency was 1.20 percent as of Jan. 31, 2017, and 1.52 percent as of Feb. 29, 2016.
Fannie reported 60-day multifamily delinquency of 0.05 percent, the same as the prior month and 2 basis points less than a year prior.
