Freddie Mac’s Portfolio Increases 0.7% in October
Freddie Mac’s portfolio changes
Today, Freddie Mac reported its total portfolio increased at an annualized rate of 0.7 percent in October compared to 0.8 percent in September. The total value of the portfolio decreased by 21.6% to $770.1 billion from $765 billion last year.
Freddie Mac purchased $9.19 billion in mortgages during the month, and the net amount of mortgage-related investment portfolio mortgage purchases was $1.66 billion, down from the $4.6 billion in purchases in September.
Mortgage lender Dan Green said, “Over the last 18 months, both Freddie Mac and Fannie Mae have been losing market to the FHA. However, all three are nationalized entities. As taxpayers, therefore, we shouldn’t care so much about portfolio sizes as much as portfolio quality. The bad news here is the quality of Freddie Mac’s existing loans is worsening. Delinquencies are up month-over-month. However, 2009 vintage isn’t performing as poorly as prior years so that’s reason to be optimistic. ”
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This article published on Wednesday, November 25th, 2009 at 10:24 am | Contact the editor
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AGBeat Editor-in-Chief: Lani, named one of Real Estate’s 100 Most Influential, as well as 12 Most Influential Women in Real Estate, is a business writer hailing from the great state of Texas in the city of Austin. As a digital native, Lani is immersed not only in advanced technologies and new media, but is also a stats nerd often burried in piles of reports. Lani is a proven leader, thoughtful speaker, and vested partner at AGBeat.
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Freddie Mac’s Portfolio Increases 0.7% in October: Freddie Mac’s portfolio changes
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[...] are in trouble, as 9.64% are delinquent, Fannie Mae’s portfolio value declined 27.8%, and Freddie Mac’s portfolio value decreased 21.6% this [...]