Freddie Mac Portfolio Shrinks by 9.9% Annualized, Delinquencies Rise

Freddie Mac (FRE), the second-largest provider of funding for U.S. residential mortgages, on Friday said its mortgage investment portfolio declined by an annualized 9.9% rate in May, while delinquencies on loans it guarantees, which increase stress on the company’s capital, accelerated. The company’s total mortgage portfolio shrank to $2.228 trillion.

From Reuters: The portfolio decreased to $823.4 billion, for an annualized 5.6 percent increase year to date, the McLean, Virginia-based company said in its monthly volume summary.

In May 2008, the portfolio was $770.4 billion.

Delinquencies , jumped to 2.62 percent of its book of business in May from 2.44 percent in April and 0.86 percent in May 2008.

The multifamily delinquency rate also rose, up 0.02 percentage point to 0.12 percent in May…

Freddie Mac said refinance-loan purchase volume was $40.3 billion in May, down from April’s $43.3 billion. March’s $52 billion was its largest refinance month since 2003.

Freddie’s monthly volume summary »

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