Mortgage Daily

Published On: January 23, 2009
Business Deteriorates at Freddie$29.8 billion December purchases

January 23, 2009

By MortgageDaily.com staff

Secondary purchases declined at Freddie Mac as residential delinquency shot up.Purchases and issuances were $460.0 billion last year, according to a monthly summary released today. Volume slid from $577.7 billion in 2007.

Fourth-quarter purchases and issuances were $75.9 billion, sliding from the third quarter’s $87.6 billion. During the fourth-quarter 2007, volume was $136.6 billion.

For just December, Freddie reported $29.8 billion in business, climbing from $26.9 billion in November but well off $55.1 billion in December 2007.

The McLean, Va.-based firm’s total mortgage portfolio was $2.207 trillion on Dec. 31, rising from $2.200 trillion on Nov. 30. Components of the portfolio were an $0.805 trillion retained portfolio and $1.403 trillion in outstanding participation certificates.

Single-family delinquency of at least 90 days shot up to 1.72 percent at the end of December from 1.52 percent at the end of November. At the end of 2007, the single-family delinquency rate was just 0.65 percent.

Multifamily delinquency of at least 90 days remained at 0.01 percent — where it has stood during seven of the past 12 months.

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