Freddie Mac reported its total mortgage portfolio increased at a compound rate of 14.2% annually during June 2020. Fannie Mae reported a 13.4% annualized growth rate during the same month.
Delinquency rates continued to rise, both Freddie Mac and Fannie Mae report.
Fannie Mae reported its conventional single-family serious delinquency rate increased 176 basis points to 2.65% in June and that, as of June 30, 6.7% of its single-family portfolio based on unpaid principal balance had received forbearance. Most loans that had entered forbearance plans did so due to issues related to COVID-19, and 24% of them were still current, Fannie Mae reported.
Freddie Mac’s single-family delinquency rate increased between May and June from 81 to 248 basis points. Freddie Mac reported its aggregate unpaid principal balance of its mortgage-related investments portfolio increased by approximately $6.2 billion in June.
Multifamily delinquency rates increased from 9 basis points in May to 10 basis points in June, Freddie Mac reported, and increased 53 basis points for Fannie Mae. Many multifamily forbearance loans also are COVID-related, Fannie Mae reported.
Since March, the nationwide delinquency rate has continued to reach all-time increase highs each month.
Single-family refinance-loan purchase and guarantee volume in June represented 78 % or $65.5 billion of Freddie Mac’s total single-family mortgage portfolio purchases.
Freddie Mac mortgage-related securities and other mortgage-related guarantees increased at an annualized rate of 9.5 % in June.
Both Fannie Mae and Freddie Mac noted that they have been under conservatorship since 2008 with the Federal Housing Financing Agency, acting as a conservator.
Monthly summary reports from Fannie Mae and Freddie Mac contain information about year-to-date activities for gross mortgage portfolios, mortgage-backed securities and guarantees, interest rate risk measures, serious delinquency rates and loan modifications.