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Freddie Mac Reports Portfolio Update

Freddie Mac [1] released its monthly volume summary for September 2017 Tuesday, showing information on Freddie Mac’s mortgage-related portfolios, securities issuance, risk management, delinquencies, debt activities, and other investments.

In September, total mortgage portfolio increased at an annual rate of 2.0 percent and the total number of single-family loan modifications were 2,826 in September. The total amount of loans over the nine-month period landed at 34,495 and Freddie Mac’s year-to-date mortgage funding totaled approximately $299 billion.

Mortgage-securities as well as other mortgage related guarantees related to Freddie Mac increased at an annualized rate of 5.1 percent in September and the ending balance of Freddie Mac’s mortgage investments portfolio was $267 billion.

Single-family refinance-loan purchase and guarantee volume was $10.4 billion and represented 36 percent of total single-family mortgage portfolio purchases and issuances. Relief refinance mortgages comprised approximately 5 percent of total refinance volume in September 2017

The aggregate unpaid principal balance of Freddie Mac’s mortgage-related investments portfolio decreased by about $4 billion. Their single-family seriously delinquent rate increased from 84 basis points in August to 86 basis points in September and their multifamily delinquency rate decreased from 3 basis points in August to 2 basis points in September.

Freddie Mac’s measure of exposure to changes in portfolio market value averaged $18 million last month and their duration gap averaged zero months.

Freddie Mac has been operating in conservatorship with the Federal Housing Finance Agency since 2008.