Business at Freddie Falls
$37 billion January news business purchases
February 27, 2004
By MortgageDaily.com staff
One of the country’s secondary mortgage lenders reported a 17% decrease in January purchases.
Freddie Mac’s new business purchases of $36.9 billion fell well below December’s $44.2 billion, according to the company’s latest monthly summary. In January 2003, the total was reportedly $55.1 billion.
Net participation certificates of $789.6 and a retained portfolio of $639.6 gave the total mortgage portfolio an ending balance of $1.4 trillion, reported the government-sponsored enterprise.
According to Freddie, the single family 90-day delinquency rate rose to 0.86% in December from 0.76% the previous month. Meanwhile, the multifamily delinquency rate decreased slightly to 0.05%. The rates are reported on a one-month lag.
The duration gap, which measures the balance of its cash flows from assets and liabilities, stood at zero in January, unchanged since October, said the McLean, Va.-based company.
