Freddie Mac servicers had completed 7,300 Home Affordable Modification Program (HAMP) modifications on Freddie loans as of Nov. 30, which represents 23% of all permanent modifications made under the Obama administration's program.
Freddie's monthly activity report also showed that it purchased $19.3 billon in refinanced loans in November, including $2.1 billion worth with loan-to-value ratios of 80% to 105%.
The new disclosures on loan modification and refinancings of underwater mortgages also show that Freddie purchased $60 million in refinanced loans with LTVs above 105%.
A total of 115,600 borrowers with Freddie owned or guaranteed loans are participating in the HAMP payment trials and nearly 24,500 have been in the trials for more than the required three months.The monthly report also shows that Freddie issued $26 billion in MBS in November, down over 50% from June at the peak of the refinancing boom.
In June, Freddie purchased $50.9 billion in refinanced loans from lenders and issued $61 billion in MBS.
Single-family delinquencies increased by 18 basis points in November from the previous month. The report shows of 3.72% of Freddie's loans are 90 days or more past due.
