While new business was mostly flat at the Federal National Mortgage Association, delinquency continued to improve and now stands near pre-conservatorship levels.
Fannie Mae reported in its monthly operational summary that new business acquisitions totaled $30.411 billion during May.
That was barely changed from a month earlier, when secondary activity came in at $30.018 billion.
New business, however, stood at less than half of the $78.048 billion in volume reported for May 2013.
From Jan. 1 through May 31, new business acquisitions at the Washington, D.C.-based company amounted to $147.033 billion.
Fannie’s total book of business closed out May at $3.1336 trillion, receding from $3.1399 trillion at the end of April. The book was $3.1787 trillion as of May 31, 2013.
The May 31, 2014, total included an $0.4566 trillion gross mortgage portfolio and $2.6770 in outstanding mortgage-backed securities and other guarantees.
The government-controlled enterprise’s 90-day delinquency rate on its residential loans fell 5 basis points from April to 2.08 percent.
Residential delinquency has not been this low since it was 1.89 percent in October 2008 — just a month after it was thrown into conservatorship.
In May 2013, the rate of serious delinquency was 2.83 percent.
On its commercial real estate portfolio, multifamily delinquency of at least 60 days slipped a basis point to 0.10 percent and was 20 BPS better than in May 2013.