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Paydowns Expected to Rise to $130 Bln in February and March


By Sally A. Runyan, Thomson Reuters

February 26, 2010

On Feb. 10, Freddie Mac made an unexpected announcement that it would "purchase substantially all 120 days or more delinquent mortgage loans from the company's related fixed-rate and adjustable-rate (ARM) mortgage Participation Certificate (PC) securities." The GSE said these purchases would be reflected in the factor report released on March 4. Later in the day, Fannie Mae made a similar announcement that its buyouts will begin in March - which will reflect in the April factor report - and take place over a few months' time.

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