Mortgage Daily

Published On: December 16, 2003

Fannie Business Volume Off by Nearly Half Since September

$75.2 volume for November

December 16, 2003

By MortgageDaily.com staff

Fannie Mae’s business volume sank further in November.

Fannie’s latest monthly summary report showed November business volume totaled $75.2 billion, plunging 25% from October’s $100.3 billion. The total has been descending since September — when record business volume of $145.6 billion stood 94% above the latest figure. Last year at this time, the total was $95.6 billion.

Business volume was comprised of $57.6 billion in mortgage backed securities (MBS) acquired by others and $17.6 billion in portfolio purchases, said the government sponsored enterprise.

Fannie reported its book of business totaled close to $2.2 trillion. Outstanding MBS of $1.3 trillion and a gross mortgage portfolio of $0.9 trillion accounted for the book’s total.

The government sponsored housing enterprise reported single-family delinquency at 0.57%, one basis point below the prior month.

The duration gap on the mortgage portfolio averaged -1, compared to the previous two months’ unchanged figure of +1, according to the report.

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