Cannabis Report
Home > Boards > US OTC > Banking and Finance > Fannie Mae (FNMA)

Fannie/Freddie Issuance Slips in May, but Purchase Business

Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
mikoli007 Member Profile
 
Followed By 27
Posts 5,693
Boards Moderated 0
Alias Born 07/15/13
160x600 placeholder
mikoli007   Wednesday, 06/10/15 01:53:34 PM
Re: None
Post # of 466277 
Fannie/Freddie Issuance Slips in May, but Purchase Business Finally Takes Hold

By John Bancroft
jbancroft@imfpubs.com
Fannie Mae and Freddie Mac issued $74.10 billion of single-family mortgage-backed securities during May, down 8.0 percent from April, a new Inside The GSEs analysis reveals.
The purchase-mortgage market picked up some last month, but not enough to offset a sharp 15.7 percent drop in the volume of refinance loans securitized by the GSEs. Purchase-mortgage business was up 7.2 percent from April and reached a combined $28.25 billion – the highest monthly volume since the end of last year’s homebuying season in October.
For the first five months of 2015, purchase-mortgage activity totaled $105.15 billion, up 19.0 percent from the same period last year. Most of the big gain in overall GSE business has come from refinancing, which is up 94.4 percent on a year-to-date basis, but now appears to be slowing down.
Freddie had a better month in May than Fannie. Freddie’s total MBS issuance was off just 1.9 percent from April’s level, and it featured a hefty 15.1 percent jump in purchase-mortgage activity. Fannie’s total volume dropped 12.4 percent last month. For more details and an exclusive ranking of the top GSE sellers, see Inside The GSEs, now available online.


Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
Follow Board Follow Board Keyboard Shortcuts Report TOS Violation
X
Current Price
Change
Volume
Detailed Quote - Discussion Board
Intraday Chart
+/- to Watchlist