Freddie Mac Plans Monthly Delinquency Disclosures on Home Loans
Freddie Mac, the government-supported mortgage company, said that it plans to begin providing monthly disclosures on the amount of delinquencies among individual pools of home loans within bonds it guarantees.
The number of loans and unpaid balances in four categories of delinquency length will be reported on Freddie Mac’s website starting in January, the McLean, Virginia-based company said in an e-mailed statement.
“Freddie Mac is providing the market more timely and detailed information about delinquencies of loans backing our PC and Giant securities,” Mark Hanson, vice president of mortgage funding at the company, said in a statement. “We understand that the new disclosures may aid market participants in modeling prepayment speeds.”
The company currently reports information on the total level of delinquencies within all of the debt it backs and among different categories of loans. The data doesn’t cover its individual mortgage-backed securities, known as participation certificates and Giant PC securities.
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