$45.3 billion May business volume
By MortgageDaily.com staff
6/27/2005

Secondary mortgage giant Fannie Mae managed to eke out an increase in acquired business last month, but its book of business continued to decline.

May business volume was $45.3 billion, according to the monthly summary released today, up 0.1% from April but way off from $74.6 billion last year.

The Washington, D.C.-based enterprise saw its book of business decrease for the fifth consecutive month to $2.3 trillion. The book of business was comprised of a $0.8 trillion gross mortgage portfolio, the summary said, and $1.5 trillion in outstanding mortgage-backed securities.

Fannie's weighted average duration gap remained at a reported -1 during May.

Residential delinquency, reported on a one-month lag, fell two basis points from March to 0.57% in April.

Residential originations will reach an estimated $2.7 trillion this year, Fannie said in its announcement.

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