Government-chartered mortgage repurchaser Fannie Mae expanded its loan-purchase, guarantee and securitization business at an annual rate of 20 percent in October -- the fastest rate of growth since May. The rapid expansion in Fannie Mae's "book of business" -- the sum of loans it holds as investments, guarantees or securitizes -- was driven by 16.8 percent annual growth in loans guaranteed or securitized, to $2.34 trillion. Fannie Mae reported that it also grew its mortgage portfolio -- loans and mortgage-backed securities (MBS) Fannie holds for investment -- at an annual rate of 17.3 percent during October, to $732.3 billion. The mortgage repurchaser cut back MBS issues to $49.4 billion, a 15 percent reduction from September and the lowest level since April. But at $502.9 billio...
Get Inman via Facebook Messenger
Our top headlines delivered once a day.