Business tumbled at Freddie Mac, and delinquency has nearly tripled over the past year.
Year-to-date July 31 business totaled $363.4 billion.
Freddie’s said its total mortgage portfolio was $2.2343 trillion as of July 31, easing from $2.240 trillion on June 30. Included in the huge portfolio was a $0.7991 trillion owned portfolio and $1.4353 trillion in outstanding participation certificates.
Residential delinquency of at least 90 days continued its uninterrupted rise — climbing to 2.95 percent as of the end of last month from 2.78 percent at the end of June. On July 31, 2008, delinquency was only 1.01 percent.
July delinquency was the highest on record.
Multifamily delinquency, however, was unchanged from June at 0.11 percent. Still, apartment delinquency was well above the 0.03 percent 12 months earlier.