It has been more than two years since secondary activity at the Federal National Mortgage Association was as slow as it was last month. Serious delinquency turned lower.

The total book of business at Washington-based Fannie Mae was $3.2370 trillion as of March 31, according to the secondary lender’s monthly operational summary.

Last month’s book was comprised of an $0.2283 trillion investment portfolio and $3.0087 trillion in outstanding mortgage-backed securities and other guarantees.

Source: Mortgage Daily