Fannie Mae saw its quarterly business soar to the highest level since 2005.
First quarter new business acquisitions were $161.7 billion, according a monthly summary released by the Washington, D.C.-based company today. The period was an improvement over $155.7 billion reported during the fourth quarter and $143.5 billion in the first quarter 2006.
The last time business purchases were this high was in the third quarter 2005 when the secondary lender's volume was $181.1 billion.
For just March, new business was $60.5 billion, more than $10 billion higher than February.
Fannie reported a $2.586 trillion book of business as of March 31. The figure included a $0.713 trillion gross mortgage portfolio and $1.873 trillion in outstanding mortgage-backed securities.
Delinquency on the massive portfolio, which the government-sponsored enterprise reports on a one-month lag, was 0.66 percent in February, unchanged from January.
The effective duration gap moved to negative one from zero, according to the report.