Monthly secondary marketing activity at the Federal National Mortgage Association turned lower. Serious residential delinquency, however, fell to the lowest level in more than four years.
During June, the Washington, D.C.-based company had $72.574 billion in new business acquisitions, according to a monthly operational summary.
Activity at Fannie Mae was down from the previous month’s $78.048 billion but better than the $70.572 billion reported for the same month last year.
Quarterly volume totaled $227.920 billion in the three months ended June 30, down from the first quarter’s $240.043 billion. Second-quarter 2012 business totaled $194.616 billion.
During the entire first half, secondary activity amounted to $467.963 billion.
At $3.1736 trillion, the total book of business declined from $3.1787 trillion at the end of May. The book of business was $3.1834 trillion as of June 30, 2012.
Fannie said that its gross mortgage portfolio accounted for $0.5652 trillion of the latest book of business, while outstanding mortgage-backed securities made up $2.6084 trillion.
The 2.77 percent 90-day delinquency rate on residential loans was the lowest it’s been since January 2009 — a month when the rate was also 2.77 percent.
The past-due rate was 2.83 percent in May and 3.53 percent in June 2012.
The last time that the secondary lender’s serious delinquency rate increased was in February 2010, when it was 5.59 percent.
Multifamily delinquency of at least 60 days fell for the fourth consecutive month to 0.28 percent in June. The multifamily portfolio had an 0.30 percent delinquency rate in May and an 0.29 percent rate in June 2012.
