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Origination News | Lender Ranking | Fundings by Lender | Statistics
Quarterly residential mortgage production by lender. Subprime, Alt-A, home equity and conforming originations. Volume by quarter since 2003.

Freddie's Volume Falls Below Wells'

$39.9 billion in Q3 secondary purchases at Freddie

Oct. 26, 2010

By staff

Despite a quarterly improvement in secondary marketing activity at Freddie Mac, the company's volume fell below that of the largest primary mortgage lender in the country. Residential delinquency improved, though that was not the case for late payments on apartment loans.

The secondary lender reported that purchases and issuances jumped to $39.9 billion last month from $29.1 billion in August. Volume was also better than September 2009, when Freddie acquired $32.9 billion in mortgages.

Third-quarter business amounted to $95.4 billion, higher than the $82.2 billion in purchases and issuances during the second quarter but well off the third-quarter 2009's $124.9 billion.

In comparison, the nation's biggest primary mortgage lender -- Wells Fargo & Co. -- reported $101.2 billion in third-quarter originations.

So far during 2010, McLean, Va.-based Freddie reports $276.4 billion in activity.

Freddie's total mortgage portfolio closed out last month at $2.1921 trillion. On Aug. 31 the portfolio stood at $2.2051 trillion, while the balance was $2.2427 trillion on Sept. 30, 2009.

The most recent total reflected an $0.7102 trillion investment portfolio and $1.4818 trillion in outstanding participation certificates.

Home loan delinquency of at least 90 days fell for the fourth consecutive month to 3.80 percent from August's 3.83 percent. But late payments were still worse than September of last year, when the rate was 3.43 percent.

Multifamily delinquency of at least two months increased to 0.35 percent from the previous period's 0.32 percent. The rate was more than double the 0.15 percent reported for September 2009.

Freddie Mac profile

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