Fannie Purchases Break Another Record

Fannie Mae acquired $129.13 billion in home mortgages in November, yet another record month for the company.National Mortgage News measures Fannie's acquisitions by adding together its portfolio purchases and a data point called "lender-originated" mortgage-backed securities. Fannie measures its purchases through a figure called "business volume." In November Fannie's business volume reached $95.59 billion, also a record. Although purchases were red hot, retained commitments (which measures future activity) slipped a bit. In November the company reported $52.76 billion in retained commitments, its third-best showing of the year, but a weaker number than in the spectacular months of September and October. If retained commitments continue to decline, it could be an indication that the refinancing boom is finally loosing some of its steam.