Delinquency at the Federal Home Loan Mortgage Corp. has fallen each month this year and now sits at a seven-month low. Secondary lending activity, meanwhile, moved higher for the third consecutive month.
The $2.1234 trillion total mortgage portfolio as of May 31 at Freddie Mac included an $0.2421 trillion investment portfolio and $1.8812 trillion in outstanding mortgage-related securities and other guarantees.
McLean, Virginia-based Freddie, which revealed the metrics and more in its Monthly Volume Summary: May 2018, said the total was $2.1123 trillion one month earlier and $2.0332 trillion one year earlier.
The secondary mortgage lender reported purchases and issuances of $35.493 billion last month, more than $31.753 billion in April. Business has improved each month since February and was the highest it’s been all year. In May 2017, there was $28.570 billion in secondary activity.
From Jan. 1, 2018, through May 31, purchases and issuances amounted to $147.627 billion.
Freddie reported single-family 90-day delinquency of 0.87 percent — the lowest level since it was 0.86 percent in October 2017 just prior to when last year’s hurricanes began affecting 90-day mortgage delinquency. The rate was down from 0.94 percent as of April 30 and has retreated each month since it was 1.08 percent as of year-end 2017. There was no change in the rate compared to May 31, 2017.
At 0.01 percent, 60-day delinquency on Freddie’s multifamily loans was no different that it was in the preceding month and in the same month last year.
