Game changer? Quicken Loans takes mortgage lending fully digital

Google launches mortgage comparison tool with Zillow

LendingTree will also bring mortgages to Google

Fannie Mae continues shifting credit risk to insurers

Completes fifth and sixth Credit Insurance Risk Transfer deals
Lending / The Ticker

Freddie Mac buys $41B in mortgages in August

/ Print / Reprints /
| Share More
/ Text Size+

Freddie Mac bought $41.3 billion worth of loans in August, but sold or liquidated $50.4 billion, causing its mortgage portfolio balance to shrink at an annualized rate of 5.5% in August, according to its monthly volume summary report.

The agency reduced its portfolio by $9.1 billion to $1.99 trillion in August. The portfolio contracted $14.6 trillion in July. Freddie continues its mandated action toward shrinking its presence in the mortgage market after reducing its portfolio at an annualized rate of 8.7% in July and 2.5% in June.

Freddie modified 7,817 loans in August, up from 6,778 modifications in May. It has modified 43,414 loans in 2012.

The unpaid principal balance on the agency’s mortgage-related investment portfolio rests at $573.4 billion, falling about $3 billion in the month after a $5 billion decrease in July.

Seriously delinquent single-family mortgages shrunk to 3.36% in August from 3.42% in July, according to Freddie's report. The multifamily delinquency rate stayed flat at 0.29% in the same period.

Single-family refinance-loan purchase and guarantee volume was $29.2 billion in August, representing 71% of total mortgage portfolio purchases and issuances. The agency said its measure of our exposure to changes in portfolio market value averaged $253 million in August, with a duration gap averaging one month.


Recent Articles by HousingWire Staff

Comments powered by Disqus