Freddie Mac bought $30.7 billion in loans in May, but sold or liquidated $46.7 billion, causing its total mortgage portfolio balance to shrink at an annualized rate of 9.4% in May, according to its monthly volume summary report.

The government-sponsored enterprise ruduced its portfolio by $16 billion to $2.016 trillion in May. The portfolio contracted $24.1 billion in April. Freddie continues its mandated action toward shrinking its presence in the mortgage market after reducing its portfolio at an annualized rate of 2.9% in March and 14.1% in April.

Freddie modified 5,091 loans in May, up from 3,454 modifications in April. It has modified 22,222 loans in 2012.

The aggregate unpaid principal balance on its mortgage-related investment portfolio rests at $591.9 billion, falling about $9.5 billion in the month after a $16.8 billion decrease in April.

Seriously delinquent single-family mortgages ticked down 0.01% to 3.5% in May, according to Freddie's report. The multifamily delinquency rate moved up 0.01% to 0.26% in the same period.

In May, the GSE's single-family refinance loan purchase and guarantee volume totaled $22.1 billion, representing 72% of total mortgage portfolio purchases and issuances, down from 74% in April.

jhilley@housingwire.com

@JustinHilley