June 1, 2011 (Jeff Alan)
Freddie Mac reports that the delinquency rate for single-family homes in its mortgage portfolio decreased to 3.57 percent based on data released in its Monthly Volume Summary for April 2011. That is down from 3.63 percent in March and down from 4.06 percent in April 2010.
Delinquency rates for multi-family dwellings, on the other hand, continued to increase for the fourth month in a row, achieving a rate of 0.40 percent for the month of April. That’s an increase from 0.36 percent in March and 0.22 percent in April 2010.
Single-family delinquencies are based on the number of mortgages 90 days or more delinquent or in foreclosure as of period end while multifamily delinquencies are based on the unpaid principal balance of mortgages 60 days or more delinquent or in foreclosure as of period end.
Freddie Mac’s total mortgage portfolio decreased at an annualized rate of 3.2 percent in April as their total holdings decreased from $2.143 trillion to $2.138 trillion.
Single-family refinance loan purchase and guarantee volume was $16.6 billion in April, reflecting 70 percent of total mortgage purchases and issuances.
The total amount of loan modifications made by Freddie Mac mortgage servicers for April 2011 was 11,349, which brings the total amount of loan modifications for the first four months of the year to 46,507.
Tags: Freddie Mac, Monthly Volume Report, single-family homes, delinquency rates, multi-family dwellings, mortgage portfolio, loan modifications