Fannie Mae November 2019 Monthly Sales Summary, Black Knights “first look” at November 2019 Mortgage Performance Statistics

Fannie Mae November 2019 Monthly Sales Summary, Black Knights "first look" at November 2019 Mortgage Performance Statistics
December 31, 2019

ST LOUIS, MO (MO.Properties) Monday, STL.News reported that Fannie Mae released the November 2019 Monthly Sales Summary.  The report summarized the following:

  • Fannie Mae’s Guaranty Book of Business increased at a compound annualized rate of 0.4% in November.
  • The Conventional Single-Family Serious Delinquency Rate decreased 1 basis point to 0.66% in November.
  • The Multifamily Serious Delinquency Rate remained flat at 0.04% in November.
  • In November 2019, Fannie Mae issued resecuritzations that were backed by $8.0 billion in Freddie Mac securities.
  • As of November 30, 2019, Fannie Mae’s maximum exposure to Freddie Mac collateral that was included in outstanding Fannie Mae resecuritizations was $46.4 billion.

Additionally, STL.News reported that Black Knight, Inc. reported the “first look” at November 2019 month-end mortgage performance statistics.  They are as follows:

  • November’s 33,500 foreclosure starts marked a 26% year-over-year decline, and the lowest monthly volume since Black Knight began recording the metric in 2000
  • The national foreclosure rate also fell by 3% from October to hit its lowest level since 2005
  • Delinquencies rose seasonally in November, but remain nearly 5% below last year’s level
  • Prepayment activity fell 19% from October’s six-year high due to both seasonal declines in home-sale-related prepays as well as higher interest rates impacting refinance incentive
  • Despite the pullback, prepayment activity remains 123% above this point last year

All signs are positive as we approach 2020 approaches.  We will continue to monitor the data and keep our readers updated.