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July 2017: How Freddie Fared

Freddie Mac released its July 2017 Monthly Volume Summary with a portfolio volume of $2.043 trillion up from June’s $2,04 trillion, a jump of 1.8 percent. Year to date, Freddie’s portfolio has increased at an annualized rate of 2.8 percent.

Single-family refinance-loan purchase and guarantee volume represented 32 percent of all single-family mortgage portfolio purchases and issuances, according to the report, a volume of $8.8 billion in July. Refinances represented 68 percent of all single-family purchases.

Serious delinquency rates for the single-family market, which is based on the number of mortgage loans that are three monthly payments or more past due or in the process of foreclosure, remained flat at 0.85 percent in July, with all categories (non-credit enhanced, primary mortgage insurance, and other) also without significant or any change.

In July, aggregate unpaid principal balance (UPB) of Freddie’s mortgage-related investments portfolio decreased by about $6.9 billion while the GSE’s mortgage related securities and other mortgage-related guarantees increased by 4.0 percent at an annualized rate.

According to the report, the measure of Freddie’s exposure to changes in portfolio market value (PMVS-L) averaged $43 million with a duration gap that averaged 0 months.

Freddie’s mortgage investments portfolio, which has a $250 billion goal, had an ending balance of $277 billion in July. Mortgage funding sat at $33 billion in July and $233 billion year to date.

Earlier in the month, when talking about their report on Q2 2017's results, Freddie Mac CEO Donald H. Layton said, “We at Freddie Mac are proud of the work we're doing and proud of the success we're having in making home possible for millions of Americans and in building a better housing finance system.”

To read the full report, click here.

About Author: Brianna Gilpin

Brianna Gilpin, Online Editor for MReport and DS News, is a graduate of Texas A&M University where she received her B.A. in Telecommunication Media Studies. Gilpin previously worked at Hearst Media, one of the nation's leading diversified media and information services companies. To contact Gilpin, email [email protected]
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