Net interest income was also on the rise on a quarterly basis thanks to increases in deferred guaranty fee income and interest income from portfolios.
The single-family conventional side formed the bulk of Fannie’s acquisition volume in Q2, rising from $62.3 billion in the first quarter to $85.9 billion this time around. The GSE said first-time homebuyers made up around half of purchase volume, while refinancing also ticked up – to $11.4 billion in Q2 compared with $9.3 billion the prior quarter.
About 213,000 single-family purchase loans were acquired by Fannie during the quarter, as single-family refinance loans came in at 45,000 for the three-month period.
Serious delinquencies on the single-family front, meanwhile, continued to inch downwards. That rate fell to 0.48% by June 30, compared with 0.51% at the end of March.
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Source: mpamag.com