Business has improved for three consecutive months at Fannie Mae, and the company has now surpassed $0.5 trillion in volume so far this year. Late payments on home loans remain at their lowest levels in more than two years.
The Washington, D.C.-based company reported in a monthly operational summary that new business acquisitions were $58.4 billion in October.
Volume climbed from $55.3 billion in September and has risen each month since July, when it came in at $39.4 billion. It was the best month for Fannie since March, when secondary activity totaled $57.8 billion.
In October 2010, new business acquisitions were $76.8 billion.
During the first 10 months of this year, activity amounted to $503.8 billion.
As of the end of October, Fannie’s book of business was $3.1798 trillion, declining from $3.1874 trillion at the end of September and $3.2122 trillion at the same point last year.
The Oct. 31 balance included $2.4589 trillion in outstanding mortgage-backed securities and a mortgage investment portfolio of $0.7209 trillion.
Residential delinquency of at least 90 days was 4.00 percent last month, the same as September and the lowest it has been since 3.94 percent in June 2009. The rate stood at 4.52 percent in October 2010.
Multifamily delinquency of at least 60 days drifted higher, to 0.58 percent from September’s 0.57 percent. The multifamily rate was 0.71 percent in October 2010.
