Fannie Mae Issues May Volume Report

Mae securitized $61.4 billion in whole loans held for investment in its portfolio, and its gross mortgage portfolio grew at a compound annualized rate of 35.1% in May, the company says in its monthly volume summary. Fannie Mae also provided $71.6 billion of liquidity to the market during the month, including mortgage-backed securities issuances of $67.7 billion (excluding securitizations of whole loans held for investment). The government-sponsored enterprise's refinance volume increased to $57 billion in the month, and Fannie Mae expects volumes will remain above historical norms in the near term, but may fluctuate from month to month based on a number of market factors. "We expect that the [Making Home Affordable] program will bolster refinance volumes over time as major lenders adopt necessary system changes and consumer awareness continues to build," the summary says. On the topic of serious delinquency rates, Fannie May says its conventional single-family serious delinquency rate rose 27 basis points in April to 3.42%, and its multifamily serious delinquency rate rose two basis points to 0.36% percent in April. The company's book of business grew at a compound annualized rate of 5% in May. SOURCE: Fan


Please enter your comment!
Please enter your name here