Freddie Mac came out with its February monthly volume summary report last week. The GSE reported that its net retained portfolio grew an annualized 5.1% to $709.2 billion in February. This compares with a gain of 4.4% in January. Year-to-date, portfolio growth is running at 4.7%.
The firm's purchases totaled $19.8 billion, while sales and liquidations were $16.8 billion, resulting in a net increase of nearly $3.0 billion from January. Net purchase agreements declined to just under $15 billion, down from $18.1 billion in January.
Holdings of Freddie Mac's own securities increased $4.7 billion to $362.3 billion, and represent 51.1% of the portfolio. Non-Freddie Mac mortgage-related agency holdings were little changed at $45.1 billion, while nonagency holdings declined $1.5 billion to $235.8 billion. Combined non-Freddie Mac mortgage-related holdings represent 39.6%. Finally, mortgage loan holdings were steady at $66 billion, making up 9.3% of the portfolio.
Issuance of PCs and structured securities were $39 billion versus $371 billion in January. Net issuance was $21.1 billion, up from $18.7 billion previously. Non-credit-enhanced, single-family delinquencies (90 days or more) were 25 basis points in January, unchanged from December. Duration gap was unchanged at zero months.
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