Fannie Mae issued $629.5 billion in mortgage-backed securities in 2007, up 30% from the level recorded in the previous year, as the government-sponsored enterprise benefited from the meltdown in the private-label MBS market. In December, Fannie issued $64.0 billion in guaranteed MBS -- its best month since April 2003, when MBS issuance totaled $78.7 billion and lenders could barely keep up with the refinancing boom. November 2007 issuance totaled $62.6 billion. The monthly report shows that Fannie's mortgage investment portfolio ended the year at $723.9 billion, up slightly from $721.4 billion at the beginning of 2007. Fannie's regulator has a cap on the growth of the GSE's portfolio growth, which might be removed this year. Fannie can be found online at http://www.fanniemae.com.

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