Fannie October Business Off by almost a Third

$100 billion business volume in October
By MortgageDaily.com staff
11/13/2003

Business volume shrunk from its record level for one of the nation's secondary lenders.

According to its latest monthly summary report, Fannie Mae's business volume plunged to $100.3 billion in October from September's record of $145.6 billion. The latest figure is closer to the $95.1 billion reported a year ago.

A total $72.7 billion in mortgage backed securities (MBS) acquired by others and portfolio purchases of $27.6 billion accounted for the business volume total, according to the Washington D.C.-based lender.

The book of business total, approximately $2.2 trillion, was made up of $1.2 trillion in outstanding MBS and $0.9 trillion in gross portfolio mortgages, according to the report.

Fannie's mortgage portfolio duration gap averaged +1, unchanged from the prior month, the company said.

October's conventional single-family delinquency rate of 0.58% was the same as the prior month, reported Fannie, while the multifamily delinquency rate edged down to 0.12%.

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