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    Morgan Stanley will hand out hundreds of millions of dollars in consumer relief and fork over hundreds of millions more to state governments as part of $3.2 billion settlement over its “deceptive” mortgage bond practices in the run-up to the financial crisis, the New York Attorney General’s Office said Thursday. Click the headline to read more.

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Freddie Mac mortgage portfolio swells

Total mortgage purchases and issuances at Freddie Mac reached $48.4 billion in June while the enterprise also liquidated $41.8 billion of loans, causing its mortgage portfolio to increase at an annualized rate of 0.5%, according to its monthly volume summary report.

Single-family refinance-loan purchase and guarantee volumes reached $33.4 billion in June, representing 69% of the GSE’s total mortgage portfolio purchases of issuances.

Additionally, relief refinance mortgages comprised 30% of the enterprise’s total refinance volume during the month based on unpaid principal balance, down from May.

Freddie Mac modified 7,044 loans in June and 39,890 in the first six months of the year.

The unpaid principal balance of the agency’s mortgage-related investment portfolio increased by $3.3 billion.

Meanwhile, mortgage-related securities and other guarantee commitments increased at an annualized rate of 5.6% in June.

Seriously delinquent single-family mortgages shrunk from 2.85% in May to 2.79% in June. The multifamily delinquency rate rose from 0.08% in May to 0.09% in June.

The measure of the GSE’s exposure in the portfolio market value averaged $286 million in June, Freddie added.

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