Freddie Mac is on track for 25% more loans this year, most of them repudiated

Freddie Mac reported this week that his total mortgage portfolio has grown at an annualized pace rate of 25.7% in October against a gain of 17.5% in September. The portfolio balance at the end of the period was $ 2.625 trillion, up from $ 2.579 trillion the month before and $ 2.301 billion a year earlier. The growth rate for the year to date is 15.2 percent.

Purchases and issues totaled $ 137.285 billion and sales amounted to $ (1.706) billion. The September figures were $ 114.386 billion and ($ 3.064 billion), respectively.

Single parent family The volume of purchases and refinancing guarantees amounted to $ 89.7 billion
in October against 70.9 billion dollars in September, which represents a 71 percent share of total purchases and issues of single-family mortgage portfolios, compared to 69% the previous month.

Purchases in Freddie Mac’s mortgage investment portfolio totaled $ 109.487 billion for the month, up from $ 93.820 billion in the prior period. Closeouts amounted to ($ 2.045) billion and ($ 2.347) billion for October and September respectively and sales for both periods were $ 114.161 and ($ 89.529) billion. The portfolio’s closing balance was $ 191.457 billion, up from $ 198.176 billion in September and $ 216.813 billion in October 2019.

The Mortgage Related Investments portfolio fell 40.7% compared to growth of 11.4% a month earlier. Annualized growth in October 2019 was negative 25.9%.

The closing balance of the mortgage-related investment portfolio consisted of $ 78.959 billion of mortgage-related securities, mortgages valued at $ 107.934 billion, mortgage-related securities not issued by Freddie Mac to $ 1.455 billion; and mortgage-related securities from the non-Freddie Mac agency for $ 3.109 billion. Securities linked to mortgages and other collateral commitments rose at an annualized rate of 26.1 percent in October from 18.6 percent in September.

Freddie Mac’s Single Family the delinquency rate fell from 3.04% in September to 2.89% in October. The rate of multi-family delinquency increased by 1 basis point to 0.14%.

Freddie Mac said his measure of exposure to changes in the value of the portfolio averaged $ 10 million in October compared to $ 103 million in September.

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