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Volume Off at Fannie

Volume Off at Fannie

$138.0 billion business volume reported for August

September 16, 2003

By staff

Business volume decreased for a national secondary lender last month.

Fannie Mae reported business volume of $138.0 billion, a downturn from July’s $144.1 billion. The mortgage giant’s volume was more than double the $59.2 billion reported for August 2002.

Portfolio purchases accounted for $82.7 billion of the business volume, theWashington D.C.-based secondary lender reported, while mortgage-backed security (MBS) issues acquired by others contributed $55.4 billion.

Fannie said year-to-date business volume surpassed $1 trillion, an upturn from last year’s $0.5 trillion.

The book of business, made up of $0.9 trillion from the gross-mortgage portfolio and $1.2 trillion in outstanding MBS, surpassed the $2 trillion mark, the government sponsored enterprise reported.

The company reported an average duration gap of +4, compared to +6 reported for July.

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