Freddie Mac Moves To Expand Delinquency Reporting


Freddie Mac Moves To Expand Delinquency Reporting Beginning in January, Freddie Mac will begin disclosing pool-level delinquency data on a monthly basis for all single-family Freddie Mac Participation Certificate (PC) and Giant PC securities. Providing the new data at the pool level will make the company's data disclosures consistent with an industry practice previously established by Ginnie Mae.

The government-sponsored enterprise explains that market participants have expressed interest in more detailed delinquency information when analyzing the attributes of securities. Freddie Mac currently provides aggregate delinquency data by PC cohort each month.

Importantly, Freddie Mac explains that once the new pool-level delinquency disclosures begin, market participants will be able to associate delinquency rates with individual seller/servicers for single-family pools.

The data will be broken into four delinquency groups: 30-59 days delinquent, 60-89 days delinquent, 90-119 days delinquent and 120 days or more delinquent.

Additionally, the new monthly disclosures will include a category representing the UPB and the number of loans that were purchased by Freddie Mac out of the applicable PC or Giant PC security because the loans are 120 days or more delinquent.

January's data will reflect the information servicers report to Freddie Mac in December 2010.

SOURCE: Freddie Mac

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