Freddie Mac’s Portfolio Up 0.7 Percent in October

by devteam November 24th, 2009 | Share

Freddie Mac reported today that its total portfoliornincreased at an annualized rate of 0.7 percent in October compared to 0.8rnpercent in September.  One year ago thernportfolio decreased by 0.8 percent from the previous month.

The corporation purchased $9.19 billion in mortgages duringrnthe month, less than half the $18.84 billion purchased in September whilernliquidations totaled $10.4 billion compared to $10.8 billion a monthrnearlier.  The net amount of mortgage-relatedrninvestment portfolio mortgage purchases was $1.66 billion, down from the $4.6rnbillion in purchases the previous month.   The Total value of the portfolio decreased byrn21.6 percent to $770.1 billion.   One yearrnago the value of the mortgage-related investments portfolio was $765 billion.

Under an agreement with the Department of the TreasuryrnFreddie Mac's retained portfolio is capped at $900 billion until the end ofrnthis year when it must begin to decrease at the rate of 10 percent each yearrnuntil it reaches $250 billion.

Freddie Mac purchased or issued $32.2 billion in loans forrnits total portfolio; in September that figure was $32.9 billion.  $28.8 billion in mortgages were liquidated,rndown from $31.2 billion for an ending balance of $2,243,920 billion, a netrnincrease of $1.2 billion for the month. rnOne year ago the total portfolio was valued at $2,194,895 billion.   

The refinance-loan purchase and guarantee volume was downrnfrom $21.4 billion in September to $18.0 billion last month.

Single family mortgage delinquencies of 90 days or morernincluding foreclosures rose again to 3.54 percent.  This was 21 basis points higher than inrnSeptember.   Within that figure the delinquencyrnrate for non-credit enhanced SFR mortgages was 2.7 percent (up from 2.6rnpercent) and for credit enhanced the rate was 7.4 percent (compared to 6.9rnpercent). One year ago the single family rate was 1.34 percent.  The multifamily rate was 0.12 percent, up onernbasis point.  One year ago the rate of delinquenciesrnin the multi-family portfolio was 0.01 percent.

The measure of Freddie Mac's exposure to changes inrnportfolio market value (MPVS-L) averaged $472 million in October compared torn$566 million in September.  The durationrngap was unchanged at 0 months.

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About the Author


Steven A Feinberg (@CPAsteve) of Appletree Business Services LLC, is a PASBA member accountant located in Londonderry, New Hampshire.

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