Mortgage Daily

Published On: August 26, 2015

After ascending to the highest level in two years, secondary activity the Federal Home Loan Mortgage Corp. slipped. Delinquency, however, improved and now stands near its lowest level since the financial crisis erupted.

Freddie Mac reported that its purchases and issuances totaled $41.152 billion during the month of July.

Activity eased from the previous month, when business came in at $41.300 billion — the best month since July 2013.

In July 2014, purchases and issuances were just $25.375 billion.

Volume during the first seven months of this year came to $247.127 billion.

The McLean, Virginia-based firm ended last month with a total mortgage portfolio of $1.9253 trillion.

Freddie’s book of business grew from $1.9240 billion a month earlier and $1.8955 trillion a year earlier.

The July 31, 2015, total mortgage portfolio was comprised of
an $0.3730 trillion investment portfolio and $1.5523 trillion in outstanding mortgage-related securities and other guarantee commitments.

Maintaining a long-term trend for the government-controlled enterprise, residential delinquency of at least 90 days fell
five basis points from June to 1.48 percent.

The last time Freddie’s serious residential delinquency was this low was in October 2008, when the rate was only 1.34 percent — though that was a record-high at the time.

Freddie was thrust into conservatorship at the height of the financial crisis in September 2008.

In July 2014, the 90-day rate was 2.01 percent.

Multifamily delinquency of at least 60 days was unchanged for the second month in a row at 0.01 percent. The rate was 0.05 percent a year earlier.

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