Strong Month for Fannie

Mortgage News

Mortgage Daily Staff

                                                 November 1, 2014

Monthly performance metrics improved across the board at the Federal National Mortgage Association. New business climbed to the highest level in nearly a year, delinquency fell to the lowest rate in almost six years, and the total portfolio grew.

Fannie Mae made $45.599 billion in new business acquisitions during September, according to a monthly operational report. That turned out the be the best month since October 2013, when volume was $49.209 billion.

Secondary activity was $37.670 billion a month earlier, while business declined from $55.973 billion a year earlier.

In the nine months ended Sept. 30, new business added up to $305.832 billion.

On a quarterly basis, Fannie’s new business acquisitions were $123.168 billion, climbing from $96.060 billion in the second quarter. But volume fell well short of the $197.626 billion generated in the third-quarter 2013.

As of Sept. 30, 2014, the Washington, D.C.-based company’s total book of business was $3.1207 trillion, rising from $3.1169 trillion at the end of August. But the total book fell from $3.1636 trillion at the same point in 2013.

Fannie’s Sept. 30 book of business included an $0.4381 trillion gross mortgage portfolio and $2.6826 trillion in outstanding mortgage-backed securities.

Residential delinquency of at least 90 days was 1.96 percent — lower than at any time since October 2008, when the rate was 1.89 percent.

The serious delinquency rate was 1.99 percent as of Aug. 31 and 2.55 percent as of Sept. 30, 2013.

There was no change from the previous month in the 60-day multifamily delinquency rate, leaving it at 0.09 percent as of the most recent month. The rate, however, improved considerably from 0.18 percent a year earlier.

Mortgage Daily Staff

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