Fannie Mae in June made commitments to buy $17.6 billion in mortgage-backed securities for its investment portfolio, up from $10.6 billion in May. Fannie Mae's total commitments to buy mortgages and MBS for its portfolio was $19.5 billion, up from $12.5 billion in May. Commitments to purchases of government product jumped sharply to $6 billion in June from $3 billion the month before. Commitments have hovered just above $1 billion from February to April and were just $530 million in January.
Former Speaker of the House Newt Gingrich has joined Freddie Mac as a consultant, according to a Freddie Mac spokesman. While former congressmen cannot lobby Congress until they have been out of it for year, they can advise on political issues, and a source close to the situation said Gringrich would be a political advisor. However, one surprised source said Gringrich may antagonize many in the political arena. When Gringrich was speaker, Freddie Mac was a heavy contributor of soft money to Republican coffers.