New business rose to the highest level in eight months at the Federal National Mortgage Association, while serious delinquency fell to its lowest level in nearly six years.
July saw $39.899 billion in new business acquisitions at the Washington-based company, according to a monthly operational report.
It was the most activity for Fannie Mae since November 2013, when new business acquisitions totaled $42.069 billion.
Volume was $35.631 billion in June 2014. From the beginning of January through July’s end, $222.563 billion in new business acquisitions have been made.
Still, secondary activity at Fannie was anemic compared to the $73.387 billion generated in July 2013.
The government-controlled company’s total book of business slipped to $3.1274 trillion as of July 31 from $3.1291 trillion as of Aug. 31.
The book stood at $3.1691 trillion as of July 31, 2013.
Included in the most recent total was an $0.4499 trillion gross mortgage portfolio and $2.6776 trillion in outstanding MBS and other guarantees.
On the residential portion of its loans, Fannie’s 90-day delinquency was 2.00 percent, 5 basis points lower than in June and the lowest rate since October 2008, when serious home loan delinquency was 1.89 percent.
In July 2013, the 90-day rate was 2.70 percent.
There was no change for the second consecutive month in 60-day multifamily delinquency, which was 0.10 percent.
Multifamily delinquency was lower however, then 0.18 percent in July 2013.
