The Federal Home Loan Mortgage Corp. turned in the best month in new business since the summer of 2013. Delinquency hasn’t been this good since 2008.
Freddie Mac reported in a monthly operational report that
it had $34.104 billion in purchases and issuances during February.
Activity at the McLean, Va.-based company was higher than it’s been during any month since August 2013, when secondary activity totaled $35.963 billion.
Business amounted to $25.310 billion in January 2015 and $17.009 billion in February 2014.
During the first two months of 2015, secondary activity was
$59.414 billion.
Freddie’s total mortgage portfolio closed out last month at $1.9132 trillion, climbing from $1.9088 trillion three months earlier and $1.9082 trillion a year earlier.
The Feb. 28, 2015, total portfolio consisted of
$1.5091 trillion in outstanding mortgage-related securities and other guarantee commitments and an $0.4042 trillion investment portfolio.
Delinquency of at least 90 days on the secondary lender’s residential book of business fell 5 basis points from January to 1.81 percent — the lowest level since it was 1.72 percent in December 2008.
As of Feb. 28, 2014, the rate of serious delinquency was
2.29 percent.
Sixty-day multifamily delinquency was 0.03 percent, unchanged from January but 2 BPS better than at the same point last year.
