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Freddie Mac Tracks Serious Delinquencies

Freddie MacFreddie Mac has released its latest Monthly Volume Summary, which provides information on Freddie Mac's mortgage-related portfolios, securities issuance, risk management, delinquencies, debt activities and other investments. This latest Monthly Volume Summary is comprised of data from January 2018.

Freddie Mac’s Monthly Volume Summary for January reveals that Freddie’s total mortgage portfolio increased at an annualized rate of 0.3 percent in January. This is down quite a bit compared to January 2017, when Freddie’s portfolio increased at an annualized rate of 3.7 percent. It’s much closer to the January 2016 rate of 1.6 percent.

The aggregate unpaid principal balance of Freddie’s mortgage-related investments portfolio increased by approximately $2.4 billion in January 2018, a jump of nearly $2 billion over the monthly total increase from a year prior ($0.5 billion in January 2017). It’s still shy of the aggregate unpaid principal balance from January 2016—$2.7 billion, according to Freddie’s records.

Freddie reports that the single-family seriously delinquent rate (representing loans more than 90 days overdue) decreased from 1.08 percent in December to 1.07 percent in January. For comparison’s sake, the seriously delinquent rate decreased from 1.00 percent in December to 0.99 percent in January. Stepping back another year, Freddie’s seriously delinquent rate for January 2016 came in at 1.33 percent—a far cry from the 3.20 percent rate logged in January 2013. (Fannie Mae also showed a decreasing single-family serious delinquency rate in January 2018, dropping 1 basis point to 1.23 percent.)

Freddie’s single-family refinance-loan purchase and guarantee volume was $9.3 billion for January 2018, representing 41 percent of total single-family mortgage portfolio purchases and issuances. This is compared to $20.9 billion in January 2017, when single-family refinance-loan purchase and guarantee volume represented 59 percent of total single-family mortgage portfolio purchases and issuances. During January 2017, approximately 5 percent of Freddie’s total single-family refinance volume was comprised of relief refinance mortgages. What were those numbers in January 2016? According to Freddie, single-family refinance-loan purchase and guarantee volume was $34.5 billion in January, representing 80 percent of total mortgage portfolio purchases or issuances.

You can read Freddie Mac’s full Monthly Volume Summary for January 2018 by clicking here.

About Author: David Wharton

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