Freddie Mac reported a 14.3% jump in its retained portfolio to $720.6 billion in its July monthly volume summary released this morning. This is compared with a 1.2% increase in June.
Year-to-date, Freddie Mac's portfolio has risen $16.7 billion year-to-date, which is equivalent to a 4.1% rise. Based on the GSE's portfolio constraints place by the Office of Federal Housing Enterprise Oversight, it appears the agency can grow its portfolio by nearly $17 billion.
The portfolio's strong growth came primarily on a jump in PC and structured securities holdings of $13.6 billion. In June, the GSE's mortgage related holdings slipped $0.7 billion. Freddie Mac's holdings represent 50.7% of its portfolio.
Non-Freddie Mac mortgage related holdings declined $5.1 billion from June, with most of the decline showing up in non-agency holdings, down $4.7 billion.
Other data from the report include the agency's net retained commitments, which were just $3.4 billion, down from $40.4 billion previously. Total issuance in guaranteed PCs and structured securities was down in July compared with June at $35.5 billion versus $40.8 billion. After liquidations, net issuance was $16.7 billion, down $3.7 billion from June. Delinquencies (90 days or more) rose two basis points to 27 basis points in June from May in the non-credit enhanced category. Duration gap was unchanged at 0 months.