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After a slight uptick in December, the annualized growth rate of Freddie Mac's mortgage portfolio dipped back into the negatives in January, with growth clocking in a rate of -1.9 percent. The GSE's monthly volume summary notes the unpaid principal balance (UPB) of mortgage-related investments decreased by approximately $7.1 billion in January.

New Year Brings Another Decline in Freddie’s Portfolio

Freddie Mac released its monthly volume summary for January 2014, noting its total mortgage portfolio decreased at an annualized rate of 1.9 percent in January. Except for a slight uptick in December, the portfolio’s ending balance has been declining since July 2013.

The summary notes the unpaid principal balance (UPB) of mortgage-related investments decreased by approximately $7.1 billion in January.

Mortgage-related securities and other commitments increased at an annualized rate of 1 percent in January, down from the previous month’s growth rate of 2.3 percent.

Single-family refinance-loan purchase and guarantee volume was $10.5 billion in January, representing 55 percent of total single-family mortgage portfolio purchases or issuances.

Single-family loans saw their seriously delinquent rate decrease, falling from 2.39 percent in December to 2.34 percent in January. The multi-family delinquent rate decreased slightly from 0.09 percent in December to 0.05 percent in January

The report notes, "Relief refinance mortgages comprised approximately 34 percent of our total single-family refinance volume during January 2014 based on unpaid principal balance."

Freddie Mac reported 6,094 loan modifications for the month of January 2014.

About Author: Colin Robins

Colin Robins is the online editor for DSNews.com. He holds a Bachelor of Arts from Texas A&M University and a Master of Arts from the University of Texas, Dallas. Additionally, he contributes to the MReport, DS News' sister site.
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