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Freddie Reports Growth

Monthly and annual secondary activity improved at Freddie Mac as its massive mortgage portfolio expanded. Still, delinquency continued to deteriorate — reaching yet another record.

Last year’s purchases and issuances were $548.4 billion, according to monthly operational data from the McLean, Va.-based organization. Volume rose from $460.0 billion during 2008.

Fourth-quarter business was $104.2 billion, falling from the third quarter’s $124.9 billion but better than $75.9 billion during the same period in 2008.

During just December, volume surged to $44.0 billion from $28.0 billion a month earlier. Volume was also elevated from $29.8 billion a year earlier.

Freddie’s total portfolio climbed to $2.2505 trillion at the end of last month from $2.2398 trillion at the end of November. The portfolio stood at $2.2075 trillion on Dec. 31, 2008.

The Dec. 31, 2009, balance included $0.75527 trillion in mortgage investments and $1.4953 trillion in outstanding participation certificates.

Freddie said residential delinquency of at least 90 days climbed to a record 3.87 percent from November’s record 3.72 percent. Late payments were 1.72 percent on Dec. 31, 2008.

Multifamily delinquency of at least three months rose to 0.15 percent from 0.14 percent the prior month and 0.01 percent the prior year.

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