Mortgage Daily

Published On: March 24, 2004
Drop in Business at Freddie$33.8 billion new business purchases off by 8%

March 24, 2004

By COCO SALAZAR

Secondary mortgage lending giant Freddie Mac reported that its February business was down 8% from the previous month.

In its latest monthly volume summary, Freddie said last month’s new business purchases decreased to $33.8 billion from January’s $36.9 billion. Last February, the total reportedly stood at $48.4 billion.

The total mortgage portfolio had an ending balance of $1.4 trillion, which consisted of a retained portfolio of $637.0 billion and net participation certificates of $794.9 billion, said the government sponsored enterprise.

The McLean, Va. company said the single-family 90-day delinquency rate edged up to 0.87% in January, from 0.86% the previous month, while the multifamily 60-day delinquency rate remained unchanged from December’s 0.05%. Delinquency is reported on a one-month lag.

Unchanged from the previous month, Freddie reported the duration gap — the balance of its cash flows from assets and liabilities — was zero in February.


Coco Salazar is an assistant editor and staff writer for MortgageDaily.com.

email: [email protected]

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