Serious mortgage delinquency, which was already lower than at anytime since mid-2008, fell further at Fannie Mae. New business, meantime, also improved.
For the month of April 2016, the secondary lender’s new business acquisitions came in at $45.562 billion.
The Federal National Mortgage Association boosted its activity from the prior month, when volume worked out to $40.906 billion.
But business fell short of the $51.602 billion in secondary lending that was recorded for the same month last year.
The Washington-based government-sponsored enterprise disclosed the results, along with other operational details, in its Monthly Summary April 2016.
From
Jan. 1 through April 30 of this year, new business acquisitions amounted to $160.739 billion.
Fannie’s total book of business concluded last month at $3.1006 trillion. The total was trimmed from $3.1020 trillion a month earlier and reduced from $3.1171 trillion a year earlier.
The April 30, 2016, total was comprised of
$2.7725 trillion in outstanding mortgage-backed securities and an $0.3280 trillion investment portfolio.
Conventional single-family 90-day delinquency
was reported at 1.40 percent — the lowest rate since it was 1.36 percent in June 2008.
Serious residential delinquency stood at 1.44 percent as of March 31, 2016, and 1.73 percent as of April 30, 2015.
On its commercial real estate holdings, multifamily delinquency of at least 60 days finished last month at 0.05 percent.
Multifamily delinquency dipped a basis point from the previous month and was down 2 BPS from a year previous.
