Despite a quarterly slip, monthly new business improved at Fannie Mae, while its book of business grew and delinquency fell to a new seven-year low.
For the period that started on July 1, 2015 and finished on Sept. 30, new business acquisitions amounted to $132.189 billion at the Washington-based firm.
Secondary home finance activity was down from the previous three-month period, when $143.517 billion in business was reported for Fannie Mae.
The secondary lender reported the numbers in an operational summary.
In the same quarter last year, the institution had $123.168 billion in new business.
New business acquisitions came to $45.238 billion during just the month of September.
Activity at Fannie, which is formally known as
the Federal National Mortgage Association, increased from the previous month, when new business acquisitions were $39.606 billion.
Secondary activity slipped, however, from September 2014, when $45.599 billion in volume
was generated.
For all of the first-nine months of 2015, the government-controlled enterprise had $399.694 billion in business volume.
The latest activity left the total book of business at $3.1036 trillion as of Sept. 30, 2015.
The balance increased from $3.1013 trillion as of mid-year 2015. Fannie’s book, though, has been trimmed from $3.1207 trillion as of the same date last year.
The most-recent total reflected an $0.3705 trillion gross mortgage portfolio and $2.7332 trillion in
outstanding mortgage-backed securities and other guarantees.
On conventional single-family loans, delinquency of at least 90 days was 1.59 percent as of Sept. 30, 2015.
The last time serious residential delinquency was this low at Fannie was in August 2008, when it stood at 1.57 percent. What’s more interesting is that the August 2008 level represented — at the time — the highest level of serious residential delinquency for Fannie than at any point since at least 2001 based on the oldest available data at Mortgage Daily.
Serious delinquency was 1.62 percent as of the end of August and
1.96 percent as of Sept. 30, 2014.
There was no change from the prior periods for 60-day multifamily delinquency, which closed out the quarter and month at 0.05 percent.
Multifamily delinquency was down, however, from 0.09 percent as of the same date last year.
