Fannie Mae reported that secondary activity was slower in October, but more-recent data indicates that business has already bounced back. Residential delinquency has declined for 32 consecutive months, and late payments on apartment loans remain low.
New business acquisitions were $79.355 billion in October at the Washington, D.C.-based company, slowing from $88.792 billion in September.
Business came in, however, stronger than October 2011, when volume was $58.438 billion.
Data from eMBS indicates that during November, issuance of fixed-rate MBS at Fannie climbed to $102.861 billion from $57.219 billion in October.
With 10 months behind it, Fannie’s year-to-date new business acquisitions amounted to $747.278 billion.
The secondary lender’s book of business was $3.1932 trillion as of the end of October, slipping from $3.1933 trillion as of Sept. 30. But Fannie has grown its book from a year earlier, when it stood at $3.1798 trillion.
The gross mortgage portfolio accounted for $0.6427 trillion of Fannie’s book of business, and outstanding mortgage-backed securities accounted for another $2.5505.
Fannie kept a tight grip on its residential delinquency, with the 90-day rate falling to 3.35 percent — it’s lowest level since March 2009’s 3.15 percent. Serious delinquency has not increased since February 2010, when it was 5.59 percent.
Home-loan delinquency was 3.41 percent in September and 4.00 percent in October 2011.
Multifamily delinquency of at least 60 days was 0.28 percent as of Oct. 31, the same as a month earlier but much better than 0.58 percent a year earlier.
