Mortgage Daily Logo
mortgage news from industry experts

Best Year for Fannie Since 2003

Like its government-controlled cousin Freddie Mac, Fannie Mae reported two consecutive monthly increases in secondary acquisitions as monthly volume reached a 2010 high. But unlike Freddie, the secondary lender was able to grow its annual activity — to the highest level since 2003. Lates on home loans retreated, though apartment delinquency deteriorated.

The Washington, D.C.-based firm reported that it made $87.6 billion in new business acquisitions during December, rising for the second month in a row to the highest level of last year.

It was the same story at Freddie — which reported that it achieved its second monthly increase in purchases and issuances last month and reached its highest monthly volume of the year.

Fannie’s business came in at $77.7 billion a month earlier and $71.9 billion a year earlier.

But while Freddie reported that its annual volume fell by a quarter, 2010 volume at Fannie was better. Fannie’s 12-month business volume rose to $855.5 billion from the $823.6 billion in new business acquisitions reported for 2009.

The last time business was this good was 2003 — when a refinance tsunami helped catapult U.S. mortgage originations to an all-time high and Fannie bought $1.421 trillion.

The total book of business at Fannie climbed to $3.2240 trillion from the previous month’s $3.2153 trillion and from $3.2407 trillion at the end of 2009.

The book included a gross mortgage portfolio of $0.7888 trillion and $2.4353 trillion in outstanding mortgage-backed securities.

Residential delinquency of at least three months, which is reported on a one-month delay, was 4.50 percent at the end of November, improving from 4.52 percent on Oct. 31 and 5.29 percent on Nov. 30, 2009.

Multifamily 60-day delinquency was up 1 basis points to 0.72 percent and was also worse than 0.66 percent in November 2009.

Popular posts

How Long Does It Take to Refinance a Mortgage
How Long Does It Take to Refinance a Mortgage

So, you’re interested in refinancing your mortgage. Maybe you want some extra capital to do that home project you’ve always dreamed of, interest rates are nearing record lows, or you want to start consolidating debt. Regardless of the motivation behind the refinance,...

How Does Refinancing a Mortgage Work
How Does Refinancing a Mortgage Work

A home purchase is considered an investment, and a robust one at that. Savvy owners are constantly looking for new ways to reduce debt, save money, pay less in interest, and ultimately build equity. Refinancing is one way to leverage your investment and do just that....

What Does It Mean to Refinance Your Home
What Does It Mean to Refinance Your Home

You can think of refinancing your mortgage as a debt redo. Essentially, you’ll swap out the existing loan for a new one - ideally with better terms and conditions. Only this time it could help you save money on high mortgage payments, rather than just borrow it....

Setting up the Utilities in My New House
Setting up the Utilities in My New House

All the tedious, time-consuming home closing documents have been signed, sealed, and delivered. Your belongings are packed into what seems like a million boxes and you have a solid plan to haul all your existing furniture to the new place. Just as your boxes and...

When Is My First Mortgage Payment Due?
When Is My First Mortgage Payment Due?

Navigating your way through a brand new mortgage loan can be a difficult task, especially for first time homeowners. After handing over a large sum of money for the down payment and closing costs, it’s important to pay attention to the timing of your first mortgage...


Don’t worry, we don’t spam

calculate your monthly mortgage payment

Related Topics

Helpful Links

Daily mortgage rate trends

Best mortgage lenders

First-time homebuyers programs by state

Loan limits by state

Types of mortgages

APR vs interest rate

Understanding PMI

Related Posts