Business Falls at Freddie

September new business purchases $90.9 billion
By MortgageDaily.com staff
10/28/2003

While rival Fannie Mae reported record business volume, September's new business purchases fell at Freddie Mac.

In its monthly summary of business activity, Freddie reported new business purchases decreased from August's $99.5 billion to $90.9 billion in September. A year ago, the figure stood at $57.8 billion.

Freddie's activity is in contrast to Fannie's reported September business volume -- which increased to $145.6 billion from the prior month's $138.0 billion.

Freddie said its total mortgage portfolio stood at $1.4 trillion. The total is made up of a retained portfolio of $642 billion and net mortgage participation certificates of $709 billion.

The single-family delinquency in August reportedly rose slightly from the prior two months to 0.76%.

The McLean, Virginia company reported September's average duration gap at +1, up from 0 the prior month.

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