Freddie Mac Releases Monthly Volume Survey

Freddie Mac’s total mortgage portfolio
continued to shrink in January and February, contracting at an annual rate of
4.8 percent in January and 3.3 percent in February for an annual 2012 rate of
4.0 Percent.  At the end of February the
total value of the portfolio was 2.061 trillion compared to 2.075 trillion at
the end of 2011.

The company purchased $592 million in
mortgages for its Mortgage Related Investment Portfolio compared to purchases
of $8.92 billion in January.  In February
it sold $5.50 billion and liquidated $9.8 billion of those assets for an ending
balance of $627.82 billion.  This balance
consisted of $206.1 billion in PCV, REMICs and Other Structured Securities and
$421.72 billion in non-Freddie Mac mortgage related securities including $31.05
billion in Agency Securities, $139.78 billion in Non-Agency Securities, and
$250.89 billion in mortgage loans.

The overall delinquency rate in the portfolio
was 3.57 percent in February, down from 3.59 percent in January and 3.78
percent one year earlier.  The rate for
non-credit enhanced mortgages was 2.84 percent and for non-credit enhanced the
delinquency rate was 8.20 percent.  Multi-family
delinquencies were unchanged from January at 0.21 percent.  One year ago this rate of 0.36 percent.  The agency accomplished 4,644 loan
modifications in February and 9,369 thus far in 2012.

…(read more)

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