Fannie Mae purchased more business in August.
Business volume amounted to nearly $49.0 billion last month, up about $6.2 billion from July, according to Fannie's latest monthly volume summary report released today. However, the total is below the $57.9 billion achieved in August 2005.
The secondary lender's book of business continued past $2.43 trillion as outstanding mortgage-backed securities surpassed $1.70 trillion and offset a slight decrease in the gross mortgage portfolio to $0.73 trillion, the report said.
Single-family delinquency, which the Washington, D.C.-based company reports on a one-month lag and had improved each month this year, slightly worsened to 0.61% in July from 0.60% in June.
For the third consecutive month, the effective duration gap, or measure of the exposure to interest rate risk, reportedly came in at -1 months.