Fannie Mae reported a 4.2% increase in MBS issuance for March while the other GSEs — Freddie Mac and Ginnie Mae — registered month-over-month declines.
On Thursday, Fannie issued its monthly activity report, which shows the GSE issued $54.3 billion in MBS in March compared to $52.1 billion in February.
Freddie reported on Wednesday that its MBS issuance fell 33% from February to $23.9 billion in March. Freddie Mac noted in its monthly report that purchases of refinanced loans had dropped 38% month-over-month.
Fannie does not report refinancing volumes in its monthly report. And the GSE could not be reached in time for this story to comment on its MBS issuance.
Last week, Ginnie Mae reported an 8% decline in MBS issuance.
Fannie ended the first quarter with a $757.6 billion mortgage investment portfolio, down less than 1% from a year ago. Freddie has a $6792 billion mortgage portfolio.
A House Financial Services subcommittee recently approved a bill (H.R. 1224), sponsored by Rep. Jeb Hensarling, R. Texas, that would reduce Fannie's and Freddie's portfolios to $250 million over a five-year period.