Freddie Portfolio Dipped In April

Posted by Orb Staff on May 29, 2009 No Comments
Categories : Residential Mortgage

e Mac's mortgage portfolio decreased at an annualized rate of 8.1% in April, and its aggregate unpaid principal balance, in turn, decreased to $830.3 billion, according to a company statement. Refinance-loan purchase volume totaled $43.3 billion for the month, during which Freddie Mac began purchasing refinance mortgages originated under the Making Home Affordable (MHA) plan. The company expects refinance activity to remain high in the near term because of the government program, as well as historically low interest rates. The amount of purchase and sale agreements entered into during the month of April totaled $956 million, down from the $15.8 billion entered into during the month of March. "Our temporary suspension of foreclosure transfers, which expired on March 6, contributed to the increase in our single-family delinquency rates," the statement says. "We are currently assessing the impact on our delinquency rates of the suspension of foreclosure transfers that began on March 7 for loans eligible for modification under the MHA program." SOURCE: Fred

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