Mortgage Daily

Published On: April 23, 2002
$151 Billion New Business Purchase Volume At Freddie1st quarter GAAP net income $1.413 billion

April 23, 2002

By MortgageDaily.com staff

In its first quarter earnings announcement, Freddie Mac said its new business purchase volume was a record $151 billion during the period. The results were 86% better than the first quarter 2001, when the real estate finance giant saw $81 billion in purchase volume.

The company said during the first quarter it had record total mortgage portfolio growth of $65 billion and retained portfolio growth of $34 billion. Freddie reported that its total mortgage portfolio grew at a 23% annualized rate from $1.138 trillion at December 31, 2001 to $1.203 trillion at March 31, 2002.

Freddie reported operating earnings of $893 million during the period, compared to $719 million for the first quarter last year and $853 million for fourth quarter. As reported under GAAP, net income was $1.413 billion during the first quarter of this year.

MortgageDaily.com           
Freddie said it increased its expectation for operating earnings growth in 2002 to be about 16% to 18%, which it says is consistent with the current operating environment and it’s desire to enhance the structure of its balance sheet for the future.
FREE CALCULATORS TO HELP YOU SUCCEED
Tools for Your Next Big Decision.

Amortization Calculator

Affordability Calculator

Mortgage Calculator

Refinance Calculator

FHA Mortgage Calculator

VA Mortgage Calculator

Real Estate Calculator

Tags

Pre-Approval Resources!

Making well educated decions in a matter of minutes and stay up to date on the latest news Mortgage Daily has to offer. Read our latest articles to stay up to date on what’s going on…

Resource Center

Since 1998, Mortgage Daily has helped millions of people such as yourself navigate the complicated hurdles of the mortgage industry. See our popular topics below, search our website. With over 300,000 articles, we are guaranteed to have something for you.

Your mortgages approval starts here.

Add 1-2 sentence here. Add 1-2 sentence here. Add 1-2 sentence here. Add 1-2 sentence here. Add 1-2 sentence here.

Stay Up To Days with Today’s Latest Rates

Mortgage

Today’s rates starting at

4.63%

5/1 ARM
$200,000 LOAN

Home Refinance

Today’s rates starting at

4.75%

30 YEAR FIXED
$200,000 LOAN

Home Equity

Today’s rates starting at

3.99%

3 YEAR
$200,000 LOAN

HELOC

Today’s rates starting at

2.24%

30 YEAR FIXED
$200,000 LOAN