Residential loan performance at the Federal National Mortgage Association was the best it’s been in almost a decade. New business was also better.
By the conclusion of the first half of this year, Fannie Mae’s total book of business had reached $3.1754 trillion, growing from $3.1678 trillion at the end of May.
That was according to the Washington-based secondary lender’s Monthly Summary June 2017, which had the balance at just $3.1038 trillion at the same point last year.
Comprising the latest book was an $0.2558 trillion mortgage portfolio and $2.9196 trillion in outstanding mortgage-backed securities and other guarantees.
Fannie reported $49.443 billion in new business acquisitions for June — the second-best month this year. Volume was $43.632 billion a month earlier. The latest activity came up short, though of $53.529 billion
a year earlier.
First-half 2017 new business acquisitions came to $270.903 billion.
At 1.01 percent, single-family delinquency of at least 90 days was lower than it’s been since December 2007, when it was 0.98 percent. Serious mortgage delinquency was 1.04 percent as of May 31 and 1.32 percent as of June 30, 2016.
No change from the previous month left multifamily delinquency of at least 60 days at 0.04 percent. Delinquency on apartment loans has improved from 0.07 percent at the middle of 2016.
