Fannie's January Off

$51.1 billion monthly business purchases
By MortgageDaily.com staff
2/28/2006

Fannie Mae began the year with a downturn in business.

January business volume of $51.1 billion came in below December's level of $57.9 billion, according to Fannie's latest monthly summary report. A year ago, monthly volume was reported at $48.1 billion.

Mortgage-backed securities acquired by others of $38.9 billion and portfolio purchases of $12.2 billion accounted for January's business volume, the Washington, D.C.-based secondary lender reported.

Fannie's $2.3 trillion book of business reportedly consisted of $1.6 trillion outstanding MBS and a $0.7 trillion gross mortgage portfolio.

The single-family delinquency rate, which the secondary lender reports on a one-month lag, was 0.79% in December, up 2 basis points from the prior month.

The latest effective duration gap, or measure of the exposure to interest rate risk, remained at zero months.

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