Freddie Mac's total mortgage portfolio contracted to start 2015 after ending 2014 with hits highest annualized growth rate for a single month in five years while the serious delinquency rate for the Enterprise's loans fell to a six-year low, according to the Enterprise's January 2015 Monthly Volume Summary released Thursday. The mortgage portfolio contracted at an annualized growth rate of 0.8 percent, ending four consecutive months of expansion.
The single-family serious delinquency rate on mortgage loans backed by Freddie Mac continued to decline, from 1 point 88 percent in December to 1 point 86 percent in January, its lowest level since January 2009. This is less than half of the national serious delinquency rate, which CoreLogic reported to be at 4 point 1 percent in its December 2014 National Foreclosure Report. According to Freddie Mac's 2014 Financial Results Summary released last week, the Enterprise has helped approximately 1 point 1 million homeowners avoid foreclosure since January 2009.
Federal Housing Administration Acting Commissioner Biniam Gebre reaffirmed his organization's commitment to America's middle class as well as the role of the Administration and defended the FHA's recent lowering of the mortgage insurance premiums in statement released Thursday. Gebre's statement provides a preview of his upcoming appearance at the Five Star Government Forum on March 18 in Washington, D.C., where he will sit down for a one-on-one interview with Five Star Institute President and CEO Ed Delgado to discuss FHA's recent housing policy changes and the future of the organization.