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Another Blockbuster Month for Freddie

Mortgage News

After reaching the highest level of secondary purchases during any month last year, Freddie Mac managed to top that performance. Commercial and residential delinquency were both better.

In its November monthly summary, Freddie said purchases and issuances were $46.0 billion — the strongest month of the year.

But that wasn’t enough for the McLean, Va.-based company.

December’s volume climbed to $49.7 billion. Activity also improved from a year earlier, when purchases and issuances amounted to $44.0 billion.

Full-year business was $411.8 billion, less than the $548.4 billion in purchases and issuances during 2009.

The secondary lender’s total mortgage portfolio declined to $2.1649 trillion on Dec. 31, 2010, from $2.1720 trillion on Sept. 30. At the end of the prior year, the portfolio was $2.2505 trillion.

The most recent total mortgage portfolio consisted of an $0.6969 trillion investment portfolio and $1.4680 trillion in outstanding participation certificates.

Freddie moved its 90-day residential delinquency rate down to 3.84 percent from November’s 3.85 percent. The rate was also better than 3.98 percent on Dec. 31, 2009.

Multifamily delinquency of at least 60 days fell for the second consecutive month to 0.31 percent from 0.39 percent in November. Late payments on apartment loans were worse, however, than 0.20 percent at the close of 2009.

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