$40.2 billion February business purchases
By MortgageDaily.com staff
3/22/2005

Descending for the fifth consecutive month, Fannie Mae's volume downsized 16%.

February business volume of nearly $40.2 billion fell $7.9 billion from the previous month, according to Fannie's latest monthly summary. The figure is well below the $50.8 billion a year ago.

Portfolio purchases of $9.4 billion and $30.7 billion in mortgage-backed securities acquired by others comprised February's volume, the Washington, D.C.-based company said.

Fannie's book of business, reported at $2.3 trillion, consisted of $1.4 trillion outstanding MBS and an $0.9 trillion gross mortgage portfolio.

Single-family loan delinquency -- which the secondary lender reports on a one-month lag -- edged up two basis points from December to 0.65% in January.

The duration gap, or measure of its exposure to interest rate risk, was 0 months in February, swerving from three consecutive months at -1.

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