Fannie’s Book of Business Nearing $2 Trillion
Business volume $108.8 billion during March
April 14, 2003
By MortgageDaily.com staff
Loan activity edged up last month at Fannie Mae.
The Washington D.C.-based company reported business volume of $108.8 billion during March, almost 3% higher than February. Business volume was 77% higher than March 2002.
Business volume for Fannie was made up of $34.3 billion in portfolio purchases and $74.5 billion in mortgage-backed security (MBS) issues acquired by others.
Year-to-date business volume was $335.9 billion, the government sponsored housing enterprise reported.
Fannie said its book of business, which includes $1.11 trillion in outstanding MBS and a $0.82 trillion gross mortgage portfolio, reached $1.92 trillion.
The housing finance giant’s monthly average duration gap fell from -5 to -2. Fannie said it will use the “monthly average” instead of the “end of month” duration gap figure from now on, which will “reduce the chance that a financial event on the last day of the month will make this measure unrepresentative of the portfolio’s average risk position for the month as a whole.”
