Quarterly income at the Federal Home Loan Mortgage Corp. moved out of the red and into the black as both residential and multifamily annual business volume rose.
New single-family funding volume was $76 billion in the fourth quarter, declining from the prior quarter’s $94 billion but more than the year-earlier quarter’s $71 billion.
The results, along with other operational and financial details, were disclosed by the McLean, Virginia-based organization in its fourth-quarter 2015 earnings report.
Included in the fourth-quarter 2015 volume was $37 billion in purchase financing and $38 billion in refinancing activity.
Full-year 2015 volume was $351 billion, more than $255 billion in 2014.
Multifamily business volume for all of last year was $47 billion, leaping from $28 billion in 2014.
Freddie Mac said it helped finance 2,237,000 single-family and multifamily units last year, more than the 1,627,000 units it helped finance in 2014.
The secondary lender noted that its $347 billion investment portfolio as of Dec. 31, 2015, consisted of $146 billion in mortgages, $40 billion in non-agency mortgage-related securities, $13 billion in agency non-Freddie mortgage-related securities and $148 billion in Freddie Mac participation certificates and structured securities.
The total multifamily portfolio finished last year at $188 billion, growing from $169 billion a the previous year.
The McLean, Virginia-based organization earned $3.1 billion in pre-tax income during the fourth-quarter 2015, swinging from an $0.7 billion loss three months earlier and rising from an $0.2 billion profit a year earlier.
Full-year 2015 pre-tax income was $9.3 billion, off from $11.0 billion in 2014.
Including a $1.7 billion dividend payment planned for the first quarter of this year, Freddie has paid out $98.2 billion in dividends to the Treasury Department — far more than the $71.3 billion in draws it has taken in draws.
