There are two stories about Freddie Mac’s delinquency. There is the story about how multifamily late payments have fallen each of the past five months. And there is also the story about residential delinquency, which has managed to increase during each of those same months. In contrast, Freddie’s government-controlled cousin hasn’t reported an increase in residential delinquency during any month in nearly two years.
Purchases and issuances amounted to $34.381 during January at the Federal Home Loan Mortgage Corp., according to monthly operational data.
Volume climbed from $30.713 billion during December but came up short compared to $38.868 billion in January 2011.
Freddie Mac’s total mortgage portfolio continued to diminish, ending last month at $2.0671 trillion. The balance finished December at $2.0754 trillion and was $2.1517 trillion as of Jan. 31, 2011.
The total portfolio included an $0.6425 trillion investment portfolio and $1.4246 trillion in outstanding participation certificates.
Single-family 90-day delinquency was higher, again.
Late payments of at least three months on home loans inched up to 3.59 percent in January from 3.58 percent in December. Delinquency has deteriorated each month since August 2011, when the rate was 3.49 percent.
At rival Fannie Mae, the 90-day rate was 3.91 percent in December, but Fannie’s rate has not increased in any month since February 2010, when the 90-day rate was a revised record 5.59 percent.
Past-due borrowers accounted for 3.82 percent of Freddie’s portfolio in the same month last year.
Freddie’s commercial real estate portfolio put in a better performance.
The 60-day multifamily delinquency rate fell to 0.21 percent from December’s 0.22 percent and has been lower each month since August of last year’s 0.35 percent.
Apartment loans had an 0.28 percent rate in January 2011.
