Serious mortgage delinquency on loans backed by the Federal National Mortgage Association tumbled to the lowest level in 11 years. Monthly business also improved.
As of Aug. 31, Fannie Mae’s total book of business was $3.2669 trillion. Comprising the total was a $0.2212 trillion investment portfolio and $3.0458 trillion in mortgage-backed securities and other guarantees.
One month previous, the Washington-based organization’s total book of business was $3.2545 trillion. On the same date last year, the book was $3.1883 trillion.
Source: Mortgage Daily