A nearly one-fifth boost in monthly secondary activity was reported by the Federal National Mortgage Association — leaving monthly volume at the highest level in 17 months. Serious delinquency descended to a new post-crisis low.
The Washington-based company released operational data for March indicating that new business acquisitions totaled $45.874 billion for the month.
Business climbed from $38.463 billion in February and hasn’t been as strong since
October 2013, when secondary volume came in at $49.209 billion.
In March 2014, new business totaled $26.539 billion.
During the three months ended March 31, 2015, Fannie generated $123.988 billion in new business acquisitions.
Data from
eMBS indicate that issuance of fixed-rate Fannie Mae mortgage-backed securities was up 10 percent between March and April.
The government-controlled enterprise reported a total book of business of $3.1226 trillion, expanding from $3.1214 trillion as of Feb. 28. The total portfolio, however, has deflated from $3.1470 trillion as of March 31, 2014.
As of the most-recent date, the total included an $0.4117 trillion gross mortgage portfolio and $2.7109 trillion in outstanding mortgage-backed securities and other guarantees.
At the end of the first-quarter 2015, residential delinquency of at least 90 days was 1.78 percent, five basis points better than at the end of February, 41 BPS less than as of March 2014 and the lowest rate since
it was 1.72 percent in September 2008.
The last time serious delinquency at Fannie moved higher was in February 2010, when it was 5.59 percent.
Multifamily 60-day delinquency, however, worsened for the third consecutive month to 0.09 percent as of March 2015.
The multifamily rate was 0.08 percent a month earlier and 0.10 percent a year earlier.
