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Freddie Mac : April Single-Family Seriously Delinquent Rate Declines

Freddie Mac (FMCC) said both its single-family seriously delinquent rate and multifamily delinquency rate fell in April from March.The mortgage-finance company's single-family seriously delinquent rate declined to 2.91% last month from 3.03% in March. The multifamily delinquency rate in April was 0.09%, down from 0.16% in the prior month.The company said its total mortgage portfolio increased at an annualized rate of 0.6% in April.Freddie Mac and sister company Fannie Mae (FNMA) don't lend to consumers; rather, they buy and guarantee mortgages, package and sell them as securities to investors. The companies were put into conservatorship in 2008 at the height of the financial crisis as losses on home loans surged.The two companies had repeatedly relied on government aid to stay afloat until recently, thanks to rising home prices over the past year.In April, Freddie Mac said its single-family seriously delinquent rate fell in March from February, while the multifamily delinquency rate wa...

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