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Portfolio Growth Slows at Freddie.(Federal Home Loan Mortgage Corp.)(Federal National Mortgage Association)(Brief Article)

Mortgage Servicing News

| October 01, 2005 | COPYRIGHT 2005 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

McLean, VA -- Freddie Mac's mortgage purchase activity declined by 12.6% in July compared to the prior month and the growth of its retained portfolio slowed to an annual rate of 1.9%.

The secondary market agency's monthly volume report shows that Freddie acquired $41.89 billion in mortgages during July, down from $47.95 billion in June. Purchase volume totaled $44.76 billion in July 2004.

The July report also shows that the total assets in the retained portfolio fell by nearly $5 billion during July and ended the month at $660.03 billion. In July 2004, the retained portfolio had $656.34 billion in assets.

Freddie Mac and Fannie Mae used to grow their portfolios at a 10%-15% annual rate until they became enmeshed in accounting scandals and the Bush administration and Federal Reserve Board chairman ...

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