Freddie Mac's total mortgage portfolio continued to shrink in January and February, contracting at an annual rate of 4.8 percent in January and 3.3 percent in February for an annual 2012 rate of 4.0 Percent.  At the end of February the total value of the portfolio was 2.061 trillion compared to 2.075 trillion at the end of 2011.

The company purchased $592 million in mortgages for its Mortgage Related Investment Portfolio compared to purchases of $8.92 billion in January.  In February it sold $5.50 billion and liquidated $9.8 billion of those assets for an ending balance of $627.82 billion.  This balance consisted of $206.1 billion in PCV, REMICs and Other Structured Securities and $421.72 billion in non-Freddie Mac mortgage related securities including $31.05 billion in Agency Securities, $139.78 billion in Non-Agency Securities, and $250.89 billion in mortgage loans.

The overall delinquency rate in the portfolio was 3.57 percent in February, down from 3.59 percent in January and 3.78 percent one year earlier.  The rate for non-credit enhanced mortgages was 2.84 percent and for non-credit enhanced the delinquency rate was 8.20 percent.  Multi-family delinquencies were unchanged from January at 0.21 percent.  One year ago this rate of 0.36 percent.  The agency accomplished 4,644 loan modifications in February and 9,369 thus far in 2012.