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Freddie Portfolio Grows, Delinquency Rates Down

Freddie Mac’s total mortgage portfolio grew 4.8 percent from March 2016 to March 2017, according to the GSE’s Monthly Volume Summary released on Wednesday. Freddie handled $30 billion in purchases and issuances for the month and $98 billion year-to-date.

Freddie’s single-family purchasing market was nearly split between refinance loans and purchase loans, with purchases accounting just edging out refinance loans at 51 percent. Total single-family refinance loan purchase volume hit $11.9 billion, nine percent of which was relief refinance loans.

In total, there were just under 6,000 single-family loan modifications for March, bringing the 2017 to-date total up to 11,999.

Serious delinquencies were down for the GSE’s single-family portfolio, with a drop from February’s 0.98 percent to 0.92 percent in March. Multi-family serious delinquencies were stable, remaining at 0.03 percent. Serious delinquencies on single-family loans include mortgages that are at least three monthly payments behind or are currently going through the foreclosure process. Seriously delinquent multi-family loans are at least two monthly payments behind.

As for Freddie’s mortgage-related investments portfolio, the GSE saw a $4.2 billion drop in aggregate unpaid principal balance over the month, bringing its total portfolio balance to $291 billion. Its mortgage-related securities, however, saw an annualized increase of 6.2 percent.

Total purchases of the GSE’s mortgage-related securities into its mortgage-related investments portfolio equaled $7.3 billion, though $0.8 billion in purchase sale agreements were unsettled as of March 31.

“The ending balance of our mortgage-related investments portfolio as of March 31, 2017, after giving effect to these unsettled agreements would have been $292 billion,” the report stated.”

The measure of Freddie’s exposure to changes in portfolio market values, or PMVS-L, came in at an average of $0 million for the month. The duration gap average was also at zero.

Freddie Mac releases its Volume Summary monthly. To view the full data set, visit FreddieMac.com.

 

About Author: Aly J. Yale

Aly J. Yale is a longtime writer and editor from Texas. Her resume boasts positions with The Dallas Morning News, NBC, PBS, and various other regional and national publications. She has also worked with both the Five Star Institute and REO Red Book, as well as various other mortgage industry clients on content strategy, blogging, marketing, and more.
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