Freddie Mac Delinquencies Decline for a Second Month, Loan Volume Rises

April 26, 2012 (Jeff Alan)

The delinquency rate for single-family homes in Freddie Mac’s mortgage portfolio fell for the second consecutive month, dipping to 3.51 percent in March from 3.59 percent in February according to the recently released Monthly Volume Summary.

In March of last year, Freddie Mac’s delinquency rate was 3.63 percent.

Delinquency rates for multi-family dwellings in March increased from February, rising from 0.21 percent to 0.23 percent, the first time since July of last year that the delinquency rate has increased from the previous month. The delinquency rate in March of last year was 0.36 percent.

Single-family delinquencies are based on the number of mortgages 90 days or more delinquent or in foreclosure as of period end while multifamily delinquencies are based on the unpaid principal balance of mortgages 60 days or more delinquent or in foreclosure as of period end.

Freddie Mac completed a total of 4,308 loan modifications in March, a decline of 7.2 percent over the 4,644 loan modifications completed in February and 52.6 percent below their 2011 monthly average of 9,098 loan modifications.

Freddie Mac’s total mortgage portfolio decreased at an annualized rate of 2.9 percent from February to March as their total holdings decreased from $2.061 trillion to $2.056 trillion.

Single-family refinance-loan purchase and guarantee volume was $34.9 billion in March, reflecting 83 percent of total mortgage purchases and issuances. That was up from $28.2 billion in February.

Tags: Freddie Mac, Monthly Volume Report, single-family homes, delinquency rates, multi-family dwellings, mortgage portfolio, loan modifications

Source:
Freddie Mac