Mortgage purchases and issuances at Freddie Mac fell to $38.8 billion in January, down from $49.7 billion in December, according to Freddie’s latest monthly loan volume summary. The government-sponsored enterprise also said its total mortgage portfolio fell at an annualized rate of 7.3% last month, according to the report. The drop coincides with Treasury Secretary Tim Geithner’s request for Congress to enact GSE reforms within the next two years. The Treasury’s recent white paper on mortgage market reforms recommends a gradual winding down of the GSEs and their loan volumes in favor of a mortgage market propped up by the public sector. The single-family refinance-loan purchase and guarantee volume at Freddie hit $32.4 billion in January, making up 83% of total loan purchases and issuances. Meanwhile, the aggregate unpaid principal balance of the GSE’s mortgage-related investments portfolio fell by $2 billion in January. Freddie’s mortgage-related securities and other guarantee commitments also declined at an annualized rate of 8.1%. Freddie’s single-family seriously delinquency rate fell to 3.82% last month, while the multifamily delinquency rate grew a slight 0.28%. Freddie Mac has been under the conservatorship of the Federal Housing Finance Agency since September 2008 when the financial markets collapsed. Write to Kerri Panchuk.
Freddie Mac mortgage purchases down 23% in January
Most Popular Articles
Latest Articles
Real estate farming: Become the go-to agent in your area using these tips, tools & strategies
Learn how to generate a steady pipeline of real estate leads and clients in your area using this proven approach.
-
Zillow believes the evolution of the industry will only help it grow
-
All parties have settled the Sitzer/Burnett suit, so what’s next?
-
Longtime reverse mortgage leader Scott Norman appointed CEO of Texas MBA
-
Rates at 7% attract different types of borrowers, forcing lenders to rethink profit strategies
-
The unchanging