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Agency Issuance Yanked Down by Freddie

Mortgage News

While issuance picked up at the Federal National Mortgage Association, volume eased at the Government National Mortgage Association and sank at the Federal Home Loan Mortgage Corp.

Fixed-rate issuance at all three agencies fell to $89.4 billion during March from February’s $99.4 billion in activity, according to data released by eMBS. Issuance was higher, however, than $84.2 billion during March 2010.

Year-to-date through March 31, agency issuance amounted to $311.7 billion.

At just Fannie Mae, fixed-rate issuance rose to $49.0 billion from February’s $46.3 billion and March 2010’s $34.0 billion. Fannie’s year-to-date issuances totaled $156.5 billion.

A small declined was reported for Ginnie Mae, where volume fell to $19.0 billion from $20.5 billion a month earlier and a year earlier.

But the story was not so good at McLean, Va.-based Freddie Mac.

Issuances at the secondary lender tumbled to $21.3 billion from February’s $32.5 billion and were also worse than $29.7 billion in March of last year. This year’s business at Freddie totals $88.7 billion so far.

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