Heavy 2012 Refi Market Lifts GSE Business To Highest Annual Production Since 2003
January 10, 2013
Fannie Mae and Freddie Mac in 2012 combined for the third biggest year ever in single-family mortgage-backed securities issuance, according to a new Inside Mortgage Finance market analysis and ranking. Together, the two government-sponsored enterprises pumped out a whopping $1.266 trillion in new single-family MBS last year, a 48.2 percent increase over their total production back in 2011. It marked the biggest annual output by the two GSEs since they set the all-time record of $1.912 trillion back in 2003. Last years total came up just short of the second biggest annual issuance on record $1.270 trillion set in 2002. Heavy refinance activity was...[Includes three data charts]