Although earnings were halved on a quarter-over-quarter basis, the Federal Home Loan Mortgage Corp. is delivering another $2.2 billion to taxpayers.
Pre-tax income at Freddie Mac was $3.3 billion from Jan. 1, 2017, through March 31, sinking from $7.4 billion in the preceding three-month period.
The McLean, Virginia-based firm revealed its income, along with other financial and operational results, in its first-quarter 2017 earnings report.
Earnings swung, however, from an $0.5 billion pre-tax loss during the same quarter
last year.
The secondary lender said that it provided around $98 billion in liquidity to the mortgage market during the first-three months of this year.
Single-family purchase volume was $86 billion during the three months ended March 31, 2017, while multifamily purchase volume was $12.7 billion.
During the latest period, Freddie said it financed 160,000 single-family purchases, 208,000 single-family refinances and 159,000 multifamily units.
Freddie disclosed that its single-family guarantee portfolio finished the first-quarter 2017 at $1.779 trillion, while the multifamily guarantee portfolio was $0.164 trillion.
Including a planned dividend payment of $2.2 billion to the Treasury Department
in June, Freddie will have paid out $108.2 billion since being thrust into conservatorship in 2008. Dividends exceed the $71.3 billion in draws that Freddie has taken by $36.9 billion.
