New business ascended to the highest level since the fall of 2013 at the Federal National Mortgage Association — though volume is poised to turn lower. Serious residential delinquency, meanwhile, was at its lowest level since the secondary lender was forced into conservatorship.
In April, the Washington-based organization had $51.602 billion in new business acquisitions, according to monthly operational data.
Business has not been this strong since
September 2013, when secondary activity amounted to $55.973 billion.
Secondary volume at Fannie was $45.874 billion in March 2015 and $30.018 billion in April 2014.
But despite the recently growing level of business at the government-controlled enterprise, volume during May 2015
declined 12 percent from the previous month based on fixed-rate issuance of mortgage-backed securities reported by eMBS.
During the four months ended April 30, new business acquisitions at Fannie totaled $175.590 billion.
Fannie reported a total book of business of $3.1171 trillion as of April 30, diminishing from $3.1226 trillion a month earlier and $3.1399 trillion a year earlier.
The most-recent total reflected an $0.4052 trillion
gross mortgage portfolio and $2.7119 trillion in outstanding MBS and other guarantees.
Fannie continued to make progress in pulling down its 90-day residential delinquency rate, which fell five basis points from March to 1.73 percent.
The latest delinquency rate was the lowest since it was 1.72 percent in September 2008 — the same month Fannie failed and was taken over by the Federal Housing Finance Agency.
Serious delinquency has retreated 40 BPS over the past 12 months.
On multifamily loans, 60-day delinquency fell two BPS to 0.07 percent in April and has improved by four BPS compared to the same month in 2014.
