Mortgage Daily Logo
mortgage news from industry experts

Earnings Hold Up at Freddie

Quarterly earnings at the Federal Home Loan Mortgage Corp. exceeded year-earlier levels. A decline, however, was recorded versus the preceding three-month period.

From Jan. 1, 2018, through the end of March, income before income tax expense was $3.7 billion, according to Freddie Mac’s first-quarter earnings report.

Results at the McLean, Virginia-based organization improved from $3.3 billion earned during the same three-month period last year. Income came up short, though, of the $3.8 billion earned in the prior three-month period.

Freddie noted, “No dividend payment required to U.S. Treasury as the company rebuilds its allowed $3 billion capital buffer.” That left the balance of draws already taken at $71.6 billion and the dividends paid so far to $112.4 billion.

Freddie said it provided $80 billion in liquidity to the mortgage market during the first-three months of this year — financing 282,000 single-family homes and 152,000 multifamily units in the process.

The total guarantee portfolio was $2.049 trillion at the end of last month and included a $1.836 trillion single-family portfolio and an $0.213 trillion multifamily portfolio.

Freddie reported in its 2018 10-K filing with the Securities and Exchange Commission that 6,185 people were on its payroll as of Feb. 1, including 6,144 full-time employees and 41 part-time employees.

Popular posts

How Long Does It Take to Refinance a Mortgage
How Long Does It Take to Refinance a Mortgage

So, you’re interested in refinancing your mortgage. Maybe you want some extra capital to do that home project you’ve always dreamed of, interest rates are nearing record lows, or you want to start consolidating debt. Regardless of the motivation behind the refinance,...

How Does Refinancing a Mortgage Work
How Does Refinancing a Mortgage Work

A home purchase is considered an investment, and a robust one at that. Savvy owners are constantly looking for new ways to reduce debt, save money, pay less in interest, and ultimately build equity. Refinancing is one way to leverage your investment and do just that....

What Does It Mean to Refinance Your Home
What Does It Mean to Refinance Your Home

You can think of refinancing your mortgage as a debt redo. Essentially, you’ll swap out the existing loan for a new one - ideally with better terms and conditions. Only this time it could help you save money on high mortgage payments, rather than just borrow it....

Setting up the Utilities in My New House
Setting up the Utilities in My New House

All the tedious, time-consuming home closing documents have been signed, sealed, and delivered. Your belongings are packed into what seems like a million boxes and you have a solid plan to haul all your existing furniture to the new place. Just as your boxes and...

When Is My First Mortgage Payment Due?
When Is My First Mortgage Payment Due?

Navigating your way through a brand new mortgage loan can be a difficult task, especially for first time homeowners. After handing over a large sum of money for the down payment and closing costs, it’s important to pay attention to the timing of your first mortgage...


Don’t worry, we don’t spam

calculate your monthly mortgage payment

Related Topics

Helpful Links

Daily mortgage rate trends

Best mortgage lenders

First-time homebuyers programs by state

Loan limits by state

Types of mortgages

APR vs interest rate

Understanding PMI

Related Posts