Fannie Mae mortgage purchases nearly double from last year

The Housing Wire reports:

The amount of mortgages taxpayer-backed Fannie Mae financed in July nearly doubled from the same month last year, according to its monthly summary. The government-sponsored enterprise purchased $81.9 billion in mortgages during the month, up from $43 billion one year ago and roughly even from the month before. Fannie financed more than $494 billion in mortgages so far this year, already nearing last year's complete total of $575 billion, according to the report. In the meantime, the GSE appears to be healing from the housing crash. Fannie reported a 3.5% severe delinquency rate on its mortgage portfolio, the lowest rate since April 2009.

Barack Obama's status quo that helped get us into a financial mess.