Mortgage Daily Logo
mortgage news from industry experts

Fannie’s Business Climbs

Fannie’s Business Climbs

$145.6 billion business volume during September

October 17, 2003

By staff

One of the country’s secondary mortgage lenders reported record-breaking business volume last month and a tripled third quarter net income.

Fannie Mae reported business volume at a record $145.6 billion for September, which increased from the prior month’s $138.0 billion. This month’s figures almost doubled the $78.3 billion reported a year ago.

The business volume was made up of a record $98.8 billion in portfolio purchases and $46.8 billion in mortgage backed securities (MBS) acquired by others. A high amount of outstanding commitments settled during the month helped portfolio purchases peak, reported the government sponsored enterprise.

Year-to-date business volume reportedly totaled $1.2 trillion.

Gross balance mortgages of $0.9 trillion and outstanding MBS of $1.2 trillion made up the $2.1 trillion for the book of business, according to Fannie.

The average duration gap came in at +1, compared to +4 a month ago.

Furthermore, Fannie reported third quarter net income rose to $2.7 billion, a 168% leap from the 2002 third quarter.

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