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Freddie Mac delinquency rate, loan mods remain relatively flat

Loan modifications and the overall delinquency rate on Freddie Mac-backed mortgages remained relatively flat during February.

The government-sponsored enterprise released its February 2012 monthly summary, which shows Freddie modified 4,644 loans last month, down slightly from 4,725 modifications in January.

In addition, the aggregate unpaid principal balance on its mortgage-related investment portfolio fell by $14.7 billion in February, compared to a decrease of $10.8 billion in January. In February, the firm had a principal balance of $627.8 billion, down from $642.5 billion. 

Seriously delinquent single-family mortgages also declined from 3.59% in January to 3.57% in February, marking only a slight change, according to Freddie's monthly volume report. 

By February, the GSE's single-family refinance loan purchase and guarantee volume grew ot $28.2 billion, up slightly from $28 billion in January.

Freddie also decreased its total mortgage portfolio at an annualized rate of 3.3% in February.

kpanchuk@housingwire.com

 

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