Freddie Mac Mortgage Portfolio Rose To $2.244 Trillion, Single-Family Portfolio Delinquencies Hit Record 3.54%
The government sponsored version of subprime expert New Century reported
October numbers, and they were not pretty. The bankrupt lender of 3.5% down housing loans saw its total mortgage portfolio rise to $2.244 trillion, thanks to the Fed which keeps on buying whatever crap FRE spews off the conveyor belt, now that even PIMCO is running far from that radioactive sludge. Total single-family delinquencies hit an all time record of 3.54% (3.33% in September). And some other observations:
- The total mortgage portfolio increased at an annualized rate of 0.7% in October.
- Refinance-loan purchase and guarantee volume was $18.0 billion in October, down from $21.4 billion in September.
- The aggregate unpaid principal balance (UPB) of our mortgage-related investments portfolio was $770.1 billion at October 31, 2009, down from $784.2 billion at September 30, 2009.
- The net amount of mortgage-related investments portfolio mortgage purchase (sale) agreements entered into during the month of October totaled $1.7 billion, down from the $4.6 billion entered into during the month of September.
- Total guaranteed PCs and Structured Securities issued increased at an annualized rate of 1.1% in October.
- Our single-family portfolio delinquency rate rose to 3.54% in October, up 21 basis points from September.
- Our multifamily delinquency rate was 0.12% in October. (Look for this to go much, much higher)
- The measure of our exposure to changes in portfolio market value (PMVS-L) averaged $472 million in October. Duration gap averaged 0 months. See Endnote (16) for further information.
- On September 6, 2008, the Director of the Federal Housing Finance Agency (FHFA) appointed FHFA as Conservator of Freddie Mac.
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