GSE Loan Purchases drop 26%

With refinancing volume representing 71% of total loan purchases, at $23.1 billion, Freddie Mac reported it purchased $32.5 billion in loans from mortgage lenders in July, down from $44.1 billion in June, a drop of 26%. originationnews tells MHProNews while Freddie said loan purchases increased in June by $8 billion in Home Affordable Refinance Program (HARP) refinancings, no mention was made of July HARP activity. Freddie purchased 64,700 refis in June, an increase over 27,500 in May. Also in June, when Freddie Mac began securitizing HARP 2.0 loans with loan-to-value (LTV) ratios above 125%, the number of loans spiked to 33,000, far above the 960 LTVs in May.

(Image credit: texaslendingtoday)

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