Serious delinquency on the residential portion of the Federal National Mortgage Association’s loan portfolio continued an unabated decline. Also moving lower, however, was new business and the company’s total portfolio.
The Washington, D.C.-based company reported $197.626 billion in new business acquisitions for the three months ended Sept. 30.
Secondary mortgage volume at Fannie Mae fell from the second quarter, when activity reportedly amounted to $227.920 billion.
Activity also slowed from the same three-month period last year, when $251.934 billion in new business was generated.
On just a monthly basis, new business acquisitions totaled $55.973 billion in September — the lowest level of activity since the secondary lender reported $52.470 billion for April 2012.
Secondary volume was $68.266 billion in August and $88.792 billion in September of last year.
The government-controlled enterprise has reported $665.589 billion in new business through the nine months ended Sept. 30.
Fannie’s book of business retreated to $3.1636 trillion as of the end of the third quarter from $3.1669 trillion at the end of August and $3.1933 trillion at the same point in 2012.
The latest total was comprised of an $0.5163 trillion gross mortgage portfolio and $2.6473 trillion in outstanding mortgage-backed securities.
Residential delinquency of at least 90 days was 2.55 percent as of Sept. 30 — the lowest level since December 2008, when it was 2.42 percent. The last time the rate of late payments on home loans deteriorated at Fannie was in February 2010, when it was 5.59 percent.
The delinquency rate was 2.61 percent in August 2013 and 3.41 percent in September 2012.
Multifamily delinquency of at least 60 days was unchanged for the second consecutive month at 0.18 percent. The rate was 10 basis points better than as of Sept. 30, 2012.
