Freddie Mac’s total mortgage portfolio rose 4.3% in January, according to its latest monthly volume summary [1].
The single-family refinance-loan purchase and guarantee volume was $25.8 billion for the month—57% of the total single-family mortgage portfolio purchases and issuances.
Freddie Mac’s single-family mortgage portfolio increased by 6.8%.
The total unpaid principal balance on Freddie Mac’s mortgage-related investment portfolio fell by $10.5 billion in January.
Freddie Mac’s mortgage-related securities and other mortgage-related securities increased by 8.3% to begin in 2020.
The single-family serious delinquency rate fell 3 basis points to 60 in January. Freddie Mac’s maximum exposure to Fannie Mae-issued collateral included in Freddie Mac-issued resecuritizations was $30.4 billion.
Delinquency on mortgage loans through Freddie Mac consistently fell through 2019. The delinquency rate for mortgage loans was at 0.86% in January 2019 and ended the year at 0.79%.
Black Knight’s January 2020 [2]look at mortgage data found the national delinquency rate fell to 3.22%.
Delinquencies fell more than 5% month-to-month in January and are down 14.17% over the year.
While loan delinquencies are on a downward trend, foreclosure starts rose in January by 8.35%.
However, they are 14.74% down on an annual basis.
The foreclosure rate charted a barely perceptible increase of just 0.41% over the month of January as 1,000 properties slipped into foreclosure. The national foreclosure rate now stands at 0.46% of all mortgage loans outstanding. Despite the slight increase in January, the rate is down 9.24% from a year ago.
Fannie Mae reported earlier in February [3] a net income of $14.2 billion in 2019, including $4.4 billion during Q4 2019.
The GSE’s net worth rose to $14.6 billion by the end of the year. Based on the current agreement with the U.S. Department of the Treasury and the Federal Housing Finance Agency (FHFA), the company can retain quarterly earnings until its net worth reaches $25 billion.
Fannie Mae provided more than $650 billion in liquidity to the mortgage market in 2019, helping finance more than three million purchases, refinances, and rental units