Ocwen's regulatory burdens send up red flags and drive down stock price

Ocwen's regulatory burdens send up red flags and drive down stock price

Analysts lower price target, Citi drops buy recommendation

Activist investors critique Zillow, Trulia deal

Valuations skyrocket while earnings expectations have fallen

4 factors weighing down housing in the second half of 2014

Will housing collapse?
W S

Freddie Mac completes 23,000 loan mods, single-family delinquency rate drops

/ Print / Reprints /
| Share More
/ Text Size+
Freddie Mac completed 23,017 loan modifications during the first two months of 2011 and said single-family delinquencies on mortgages held or backed by the GSE dropped in February. The government-sponsored enterprise's latest monthly loan volume report showed 11,864 loan mods were completed in February and 11,153 in January. Freddie Mac noted the seriously delinquent rate of single-family mortgages fell to 3.78% in February, while the multifamily delinquency rate increased to 0.36%. Last year, Freddie was reporting a growth in mortgage delinquencies. The aggregate unpaid balance on all the GSEs mortgage-related portfolios increased by $1.3 billion. Total mortgage-related securities and other guarantee commitments decreased at an annualized rate of 1.7% in February. The GSE also reported that its single-family, refinance-loan purchase and guarantee volume hit $31.4 billion in February, representing 81% of total mortgage purchases and issuances.. That compares to last month when the single-family refinance-loan purchase and guarantee volume was $32.4 billion or 83% of total loan volume. Write to Kerri Panchuk.

Recent Articles by Kerri Panchuk

Comments powered by Disqus