May 30, 2012 (Jeff Alan)
The delinquency rate for single-family homes in Freddie Mac’s loan portfolio remained unchanged from March to April at 3.51 percent while loan volume fell 45 percent during the month according to the recently released Monthly Volume Summary.
In April of last year, the delinquency rate was 3.57 percent.
Delinquency rates for multi-family dwellings in April increased for the second consecutive month, rising from 0.23 percent to 0.25 percent. The delinquency rate in April of last year was 0.40 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 3,454 loan modifications in April, a decline of 19.8 percent over the 4,308 loan modifications completed in March. Through the first four months of 2012, Freddie Mac has completed a total of 17,131 loan modifications, an average of 4,283 per month, which is far below their 2011 average of 9,098 loan modifications per month.
Freddie Mac’s total mortgage portfolio decreased at an annualized rate of 14.1 percent from March to April as their total holdings decreased from $2.056 trillion to $2.032 trillion.
Single-family refinance-loan purchase and guarantee volume was $19.1 billion in April, reflecting 74 percent of total mortgage purchases and issuances. That was down from $34.9 billion in March.
Tags: Freddie Mac, Monthly Volume Report, single-family homes, delinquency rates, multi-family dwellings, mortgage portfolio, loan modifications