Fannie Business Descends

$130.6 billion 1st quarter business purchases
By MortgageDaily.com staff
4/28/2005

Business tumbled at Fannie Mae.

First quarter business volume was $130.6 billion, the secondary lender reported in its March monthly summary, way off from $165.2 billion announced in the previous quarter. During the first quarter of 2004 Fannie reported purchases of $163.0 billion.

For just March, business purchases were $42.4 billion, Fannie reported, up slightly from February but the second lowest month in the past year.

The Washington, D.C.-based corporation said its $2.3 trillion book of business consisted of a $0.9 trillion mortgage portfolio and $1.4 trillion in outstanding mortgage backed securities.

Fannie reported single family delinquency at 0.64% in February, down one basis point from January and unchanged from 90 days prior. Delinquency is reported on a one-month lag.

The effective duration gap in March was +1, the summary said, compared to 0 in February and -1 in January.

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