Fannie Mae announced today that the company's refinancing volume jumped to $77 billion in March, nearly twice the refinancing volume the company experienced during the month of February and the company's largest refinance month since 2003.

"The volumes we are seeing are very encouraging," said Tom Lund, Executive Vice President, Single-Family Mortgage Business. "A majority of our business volume in March was in refinanced loans, and we anticipate that volumes will increase even more as millions of additional homeowners become eligible to refinance under the President's Making Home Affordable plan.

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