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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 Delinquency Near Pre-Crisis Level

Secondary volume in November up 1% from October

Dec. 23, 2013

By Mortgage Daily staff

Delinquency is nearing pre-crisis levels at Freddie Mac. New business, meanwhile, stabilized after falling for four straight months to the lowest level in more than two years.

Purchases and issuances at the McLean, Va.-based company amounted to $22.663 billion last month, according to a monthly operational report.

Volume inched higher from October, when $22.379 billion in purchases and issuances marked the fourth consecutive monthly decline and the lowest level since July 2011.

With just one month remaining in 2013, year-to-date business adds up to $427.507 billion.

Freddie's secondary activity has plummeted since November 2012, when business reached $60.230 billion.

The government-controlled enterprise's total mortgage portfolio continued to diminish, ending November at $1.9139 trillion, down from $1.9171 trillion at the end of the previous month.

At the same point in 2012, Freddie carried a $1.9775 trillion total portfolio.

The Nov. 30, 2013, total included $0.4668 trillion in mortgage-related investments and $1.4471 trillion in mortgage-related securities and other guarantee commitments.

Residential loan delinquency of at least 90 days fell to 2.43 percent as of Nov. 30 -- the lowest level of serious delinquency since the 90-day rate was 2.29 percent in March 2009.

At the end of October, the rate of serious delinquency was 2.48 percent, while it was 3.25 percent at the same point last year.

Freddie reported its multifamily delinquency rate at 0.05 percent, slipping a single basis point from Oct. 31 and 19 BPS better than as of one year earlier.

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