Freddie completed more than 10,000 mortgage mods in June
Freddie Mac completed 10,809 loan modifications in June and slightly more than 66,000 during the first half of the year, according to the company's latest monthly volume summary.
The monthly average is up from 8,891 loan modifications in May.
The government-sponsored enterprise said the seriously delinquent rate of single-family mortgages fell to 3.50% last month, while the multifamily delinquency rate fell to 0.31% in June. That compares to a single-family and multifamily delinquency rate of 3.53% and 0.38% in May.
Meanwhile, the aggregate unpaid principal balance on all of Freddie's mortgage-related investments portfolio fell by $4.6 billion in June as policy makers continue to discuss and draw the blueprint for a future housing market that is driven more by private capital. Freddie's total mortgage portfolio fell at an annualized rate of 1.7% in June.
Last month, Freddie's single-family refinance-loan purchase and guarantee volume hit $14 billion, representing 53% of total mortgage purchases and issuances.
Write to Kerri Panchuk.
Don’t miss out: get HW delivered via email
- Current Chg.
- NASDAQ 3498.97 33.722 ^ixic
- S&P 500 1649.6 -0.91 ^gspc
- Volatility Index 13.99 -0.08 ^vix
- KBW Mort. Financial Index 32.45 -0.13 ^mfx
- MSCI US REIT Index 1021.85 -2.87 ^rmz