For the second month in a row, new business was down at the Federal National Mortgage Association. Improvement in residential loan performance, however, continued unabated.
New business acquisitions at Fannie Mae totaled $38.463 billion during February, according to a monthly operational
summary.
Secondary activity declined from $39.651 billion in January, has been down two consecutive months and was last this low in August 2014, when volume was $37.670 billion.
So far during 2015, the Washington-based company has reported $78.114 billion in new business acquisitions.
In February 2014, volume was $29.331 billion.
Fannie’s total book of business was $3.1214 trillion as of Feb. 28, retreating from $3.1216 trillion a month earlier and $3.1517 trillion a year earlier.
The most-recent book was comprised of an $0.4091 trillion gross mortgage portfolio and
$2.7123 trillion in outstanding mortgage-backed securities and other guarantees.
The government-controlled enterprise reported that 90-day residential delinquency fell 3 basis points from January to 1.83 percent.
Serious mortgage delinquency was last this low in September 2008, when it was 1.72 percent.
Ninety-day delinquency last moved higher in February 2010, when it was 5.59 percent.
But delinquency on commercial real estate loans was a different story, with the multifamily 60-day rate increasing for the second consecutive month to
0.08 percent.
Multifamily delinquency was 0.07 percent in January and 0.11 percent in February 2014.
