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Best Month for New Business at Freddie Since 2013

Mortgage News

New business at the Federal Home Loan Mortgage Corp. climbed to the highest level since the summer of 2013. Delinquency, meanwhile, fell to the lowest rate since 2008.

Freddie Mac reported Wednesday that during April, purchases and issuances came in at $36.480 billion.

That was the single biggest month for the McLean, Virginia-based company since July 2013, when secondary activity totaled $42.250 billion.

Purchases and issuances were $31.406 billion in March 2015 and $19.884 in April 2014.

From Jan. 1 through April 30 of this year, business amounted to
$127.300 billion.

Freddie reported a total mortgage
portfolio of $1.9160 trillion as of April 30, 2015. The book increased from a month earlier, when it stood at $1.9147 trillion, and a year earlier, when it was $1.8988 trillion.

Last month’s total included
an $0.3993 trillion investment portfolio and $1.5166 trillion in outstanding mortgage-related securities and other guarantee commitments.

Delinquency of at least 90 days on Freddie’s residential portfolio finished April at 1.66 percent.

Turns out that the last time residential delinquency was this low was in November 2008, when the rate was 1.52 percent.

Serious delinquency on Freddie Mac loans was
1.73 percent as of March 31, 2015, and 2.15 percent as of April 30, 2014.

Moving on to commercial mortgage performance, Freddie said its 60-day multifamily delinquency rate was 0.03 percent as of the most-recent date, unchanged for three consecutive months.

Multifamily delinquency stood at 0.05 percent as of the same date last year.

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