Tuesday, January 4, 2011
Sunday, July 25, 2010
Freddie Mac
Fri Jul 23, 2010 5:28pm EDT
By Lynn Adler
NEW YORK July 23 (Reuters) - Freddie Mac, the second- largest buyer of U.S. residential home loans, said on Friday that it shrank its mortgage investment portfolio in June as it has for four of the first six months of the year.
The delinquency rate on loans that Freddie Mac(FMCC.OB) guarantees remained elevated, but improved for both single-family and multi-family loans last month, the company said in its monthly summary.
Earlier this year, Freddie Mac bought back the bulk of its seriously delinquent single-family loans from its securities trusts, aiming to stem the drain on its capital and capping the delinquency rate.
The company reduced its mortgage-related investments portfolio by an annual 13.8 percent rate, or by $8.6 billion, in June to $739.5 billion.
The holdings, a key concern of many lawmakers citing concentrated risk at both Freddie Mac and its larger counterpart Fannie Mae (FNMA.OB), have fallen from $755.3 billion at the end of 2009 and from $829.8 billion a year ago. For Full Story...
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How long will this continue and has the market hit bottom? What is the bottom and how will we know when we get there, when we are on our way back up?
Friday, July 23, 2010
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