After declining to the lowest level in more than two years during April, Fannie Mae’s secondary marketing activity was down again. The good news is that delinquency has fallen more than 100 basis points over the past year.
May’s new business acquisitions fell to $36.1 billion from April’s $39.3 billion, the Washington, D.C.-based company reported in its monthly operational summary. It was the single worst month since January 2009 — when volume was $28.8 billion.
Business was off by more than half from $86.4 billion in May 2010.
Secondary activity from Jan. 1 through May 31 was $264.9 billion.
Fannie reported that its book of business ended last month at $3.2041 trillion, a reduction from $3.2143 trillion at the end of April. On May 31, 2010, the total was $3.2507 trillion.
The latest total included a $2.7009 trillion investment portfolio and $0.5032 trillion in outstanding mortgage-backed securities.
The government-controlled enterprise said residential delinquency of at least 90 days fell to 4.14 percent in May from April’s 4.19 percent. Before this month, Fannie reported late payments on home loans on a one-month lag.
Residential defaults were 5.15 percent in May 2010.
Sixty-day multifamily delinquency fell to 0.52 percent last month from 0.57 percent in April and 0.78 percent a year earlier.
