GSE's Take 70% of Loans

Fannie Mae and Freddie Mac, which last week were criticized by the nation's central banker as being too big to fail, bought seven out of every 10 conventional loans originated last year, according to figures compiled by National Mortgage News, a sister newspaper to MSN.

An analysis of production figures and loan purchases by the two mortgage giants also revealed that overall the GSEs, combined, bought 57.4% of all home mortgages funded last year.

By comparison, in 2002, Fannie and Freddie had a conventional market share of 65.5%, and a total market share of 53.5%, the analysis found.

In 2003, a record year, all residential lenders funded $3.917 trillion in loans. Fannie bought $1.423 trillion in production, while Freddie acquired $826 billion.

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