Fannie Mae's book of business continued to climb despite another decline in secondary marketing purchases.
May business purchases were $35.5 billion, off $1.5 billion from the prior month, according to the company's monthly summary released Thursday. During May 2005 business purchases were reported at $45.3 billion.
Upcoming purchases don't appear to be headed higher either. Fannie reported $12.2 billion in net retained purchase commitments during May, down more than $4 billion from each of the prior two months.
The book of business for the Washington, D.C.-based secondary lender ended last month at $2.39 trillion, up from $2.38 trillion on April 30, the report said. A gross mortgage portfolio of $0.73 trillion and outstanding mortgage-backed securities of $1.66 trillion made up the book of business.
Fannie said its April delinquency, reported on a one-month lag, was 0.64%, down for the fourth consecutive month. March delinquency was 0.67%.
The effective duration gap slipped to zero months in May from one month in April, according to the government sponsored housing enterprise.