|Record Business Volume at Fannie
$95.6 billion November business volume
December 16, 2002
By MortgageDaily.com staff
|Fannie Mae announced its November monthly summary Friday, donning its highest business volume on record.
Fannie reported almost $95.6 billion in business volume, compared with October’s $95.1 billion. In Nov. 2001, Fannie reported $61.3 billion in volume.
Year-to-date, the government sponsored housing enterprise’s business volume is at $735.1 billion.
Fannie’s book of business grew to $1.779 trillion from October’s $1.769 trillion, with a 15.1% growth rate. In November of last year, Fannie reported $1.538 trillion in its book of business.
The company’s gross mortgage portfolio grew to $760.8 billion from October’s $751.3 billion, with a 16% growth rate.
Dubbed its “Seventh Voluntary Initiative,” Fannie will voluntarily register its common stock with the Securities and Exchange Commission in 2003. This will permanently require the company to file its financial disclosures with the commission under the Securities Exchange Act of 1934, the company said.
Fannie reported that its portfolio duration gap moved further within range at +2.
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,...