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Freddie Mac mortgage portfolio shrinks in March

Freddie Mac, the government-sponsored enterprise, released its March 2012 monthly summary showing that its mortgage portfolio contracted at an annualized rate of 2.9% in the month, while loan modification and delinquency rates held steady.

The GSE continues its action toward shrinking its presence in the mortgage market after it reduced its portfolio by 3.3% in February and 4.8% in January.

Freddie modified 4,308 loans in the month, down slightly from 4,644 modifications in February.

The aggregate unpaid principal balance on its mortgage-related investment portfolio rests at $618.3 billion, falling about $9.5 billion in March after a $14.7 billion decrease in February.

Seriously delinquent single-family mortgages declined to 3.51% in March from 3.57% in February, according to Freddie's report. However, multifamily delinquency rate increased from 0.21% in February to 0.23% in March.

In March the GSE's single-family refinance loan purchase and guarantee volume grew to $34.9 billion, up from $28.2 billion in February.

jhilley@housingwire.com

@JustinHilley

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