Skip to main content

Freddie Mac Reports $4.2B in Q2 Net Income

Phil Hall
Aug 04, 2015
Fields of Money/Credit: ekinyalgin

Freddie Mac reported net income of a whopping $4.2 billion for the second quarter, up substantially from $524 million for the first quarter of 2015. The government-sponsored entity (GSE) also reported comprehensive income of $3.9 billion for the second quarter, up sharply from $746 million for the first quarter of 2015.

Freddie Mac’s single-family serious delinquency rate was 1.53 percent as of June 30, down from 1.73 percent in the first quarter. The delinquency rate is the lowest since November 2008 and is below the first quarter’s 4.24 percent rate for the entire U.S. mortgage market.

Single-family guarantee segment earnings were $489 million for the second quarter, an increase of $429 million from the first quarter. The multifamily segment comprehensive income also saw a spike, rising to $366 million for the second quarter, up from $102 million from the first quarter. New multifamily purchase volume was $13.1 billion in the second quarter, up by $3.1 billion from the first quarter of 2015.

Although Freddie Mac will observe its seventh anniversary in federal conservatorship next month—with no exit plan from conservatorship anywhere in sight—CEO Donald H. Layton nonetheless stressed the second quarter results as evidence that the system is working.

“Our very solid financial results show that Freddie Mac, while in conservatorship, is building a strong operating business model that represents taxpayers well and is efficiently serving U.S. homebuyers and renters,” said Layton. “We continue to invest in improving the customer experience, and we lead the industry in reducing the taxpayers’ exposure to mortgage credit risk.”

Published
Aug 04, 2015
CHLA Advocates Attorney Opinion Letters As Alternatives To Title Insurance

CHLA asks FHFA to explore use of the letters.

Dec 06, 2023
Helping the H.E.L.P.E.R.s

Federal bill poised to open up market to more teachers, first responders

Dec 01, 2023
Fidelity National Financial Hit By Cyberattack

Industry-leading provider of title insurance and settlement services radio silent on reported breach.

Nov 28, 2023
Citizens Bank Bids Farewell To Wholesale Mortgage Channel

In a strategic pivot, the Providence-based banking giant will stop accepting new wholesale mortgage submissions.

Nov 16, 2023
Surprising Surge In Mortgage Customer Satisfaction, J.D. Power Study Reveals

Study found first-time homebuyers were harder to satisfy, customers don't just shop rates.

Nov 16, 2023