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Quarterly residential mortgage production by lender. Subprime, Alt-A, home equity and conforming originations. Volume by quarter since 2003.

Freddie's Business at Highest Since 2010

New business up 44%, delinquency down 5 BPS

July 26, 2012

By staff

Monthly secondary marketing activity at the Federal Home Loan Mortgage Corp. climbed to the highest level since 2010. Residential delinquency, meanwhile, has not increased during any month in 2012. But delinquency on apartment loans was worse.

Last month, purchases and issuances came in at $44.103 billion, according to monthly operational data released by the McLean, Va.-based company.

Business increased from May, when purchases and issuances totaled $30.701 billion. It was the second month in a row that activity was stronger.

A year earlier, Freddie Mac's volume was $26.406 billion.

The last time that monthly secondary activity has been this high was in December 2010, when the total was $49.731 billion.

During the three months ended June 30, purchases and issuances amounted to $100.655 billion, falling from the first quarter's $114.0 billion. But business picked up from the second-quarter 2011, when volume was $73.4 billion.

From Jan. 1 through June 30, Freddie generated $214.668 billion in total secondary activity.

At $2.0122 trillion, the government-controlled enterprise's total mortgage portfolio was lower than $2.0164 trillion as of May 31. The total was also down from $2.1287 trillion a year prior.

Last month's total consisted of an $0.5813 trillion investment portfolio and $1.4309 trillion in outstanding participation certificates.

Residential delinquency of at least 90 days was 3.45 percent last month, down 5 basis points from May. The rate of delinquency has not risen since January, when delinquency stood at 3.59 percent.

Delinquency was 3.50 percent in June 2011.

Multifamily delinquency of at least 60 days, however, was higher, inching up to 0.27 percent from 0.26 percent as of May 31. But the multifamily rate improved from 0.31 percent in the same month last year.

Freddie Mac profile

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