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Wednesday, November 23, 2011

Freddie Mac single-family delinquency rate edges up in October

Government-sponsored enterprise Freddie Mac reported Wednesday that its single-family seriously delinquent rate edged up in October, hitting 3.54%, compared to 3.51% in September.
At the same time, the multifamily delinquency rate edged down to 0.31% in October from 0.33% in September.
The company, which is involved in an ongoing shift from a GSE-driven market to a more privatized mortgage finance system, saw its total mortgage portfolio fall at an annualized rate of 5.2% last month.
The single-family, refinance, loan purchase and guarantee volume hit $24.1 billion in October, representing 72% of the GSE's total mortgage portfolio purchases and issuances.
In addition, the mortgage-related securities and other guarantees from the GSE fell at an annualized rate of 6.6% during the month of October.
In October, Freddie Mac modified 6,571 loans, up from 6,465 loans in September, bringing the 10-month total to 96,697 loan mods.
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