DEC 31, 2012 10:46am ET

Fannie Reports Big Spike in Loan Purchases, MBS Issuance

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Purchases of mortgage loans by Fannie Mae jumped 25% in the month of November to the highest level since the refinancing boom of 2009 when the Federal Reserve first started purchasing agency MBS.

The secondary market agency reported late Friday afternoon that it purchased $99.2 billion in mortgage loans in November, up from $79.4 billion in October. In 2009, Fannie’s loan purchases peaked at $109.6 billion during the summer.

In a Dec. 21 release, Freddie Mac also reported a 25% spike in loan purchases in November and 74% of those loans were refinancings.

Fannie issued $107.8 billion in MBS in November, up from $62.7 billion in October.

Friday’s report also shows the serious delinquency rate on Fannie’s single-family loan portfolio fell five basis points from October to 3.3% in November. Four percent of Fannie’s guaranteed loans were 90 days or more past due in November 2011.

The serious delinquency rate on Freddie’s loan portfolio is 3.25%.

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