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Freddie Mac’s Portfolio Shrinks 2.1% in May

Freddie Mac released its monthly volume summary for May 2014, tracking information on the company's mortgage-related portfolio, securities issuance, risk management, delinquencies, debt activities, and other investments. The summary found that overall, Freddie Mac's total mortgage portfolio decreased at an annualized rate of 2.1 percent in May.

Purchases and issuances totaled $19.5 billion in May, down slightly from April’s figure of $19.8 billion. As of the end of May 2014, purchases and issuances totaled $91.8 billion.

The company reported that its annualized liquidation rate for May 2014 was 13.6 percent, up slightly from April's rate of 12.9 percent.

The company reported that single-family refinance-loan purchase and guarantee volume was $7.8 billion in May, representing 44 percent of total single-family mortgage portfolio purchases or issuances. Relief refinance mortgages made up approximately 27 percent of the company's total single-family refinance volume during May 2014.

The unpaid principal balance (UPB) of Freddie Mac's mortgage-related investment portfolio decreased by approximately $6.1 billion in May.

The total number of loan modifications for the company in May 2014 was 5,378, and modifications totaled 30,441 for the five months ending on May 31, 2014, according to Freddie Mac.

The delinquency rate declined slightly, down from 2.15 percent in April to 2.1 percent in May. Delinquency rates have steadily declined every month from May 2013's rate of 2.85 percent. The multifamily delinquency rate increased a tad as well, up from 0.05 percent in April to 0.06 percent in May.

About Author: Colin Robins

Colin Robins is the online editor for DSNews.com. He holds a Bachelor of Arts from Texas A&M University and a Master of Arts from the University of Texas, Dallas. Additionally, he contributes to the MReport, DS News' sister site.

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