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Business Strong at Fannie

Business purchases $66.4 billion

June 25, 2007

By MortgageDaily.com staff


Secondary mortgage purchases ascended to the highest level since September at Fannie Mae.

New business acquisitions during May were $66.4 billion, according to a monthly summary released today. Activity jumped 26 percent from April and soared 38 percent from a year earlier.

The Washington, D.C.-based company said its total book of business was $2.642 trillion, including a gross mortgage portfolio of $0.718 trillion and outstanding participation certificates of $1.924 trillion.

Serious residential delinquency, which Fannie reports on a one-month lag, was 0.62 percent in April, unchanged from March.

The duration gap for the government-sponsored housing enterprise was unchanged at 0 in May, according to the summary.

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