Freddie Mac's total mortgage portfolio declined at an annualized rate of 14.1% in April, according to the GSE's latest monthly summary report.

That compares to a 2.9% annualized rate reduction in March.

The ongoing reduction shows Freddie gradually decreasing its presence in the mortgage finance space — a mandate set by a government white paper issued in early 2011. In addition, the single-family refinance loan purchase and guarantee volume hit $19.1 billion last month, representing 74% of the enterprise's entire mortgage portfolio's purchases and issuances.

The number of loan modifications completed in the month hit 3,454 in April, compared to 4,308 in March.

In the first four months of the year, the nation had 17,131 total loan modifications.

The aggregate unpaid balance of the GSE's mortgage-related investments portfolio fell by $16.8 billion in April.

The single-family delinquency rate at Freddie remained unchanged at 3.51% in April, while the multi-family delinquency rate increased from 0.23% to 0.25% in the most recent report.