Freddie Mac Generated $2.6B in Q3 Income

Freddie Mac Generated $2.6B in Q3 Income

October 31, 2018
A surge in refinancing helped drive up mortgage applications activity for the week ending Oct. 4, according to data from the Mortgage Bankers Association
Freddie Mac reported comprehensive income of $2.6 billion during the third quarter, up from $2.4 billion in the second quarter but down from the $4.7 billion reported in the third quarter of 2017.
Freddie Mac also reported net income of $2.7 billion for the third quarter, up from $2.5 billion in the previous quarter but down from $4.6 billion one year earlier. The government-sponsored enterprise (GSE) will make $2.6 billion dividend requirement to the U.S. Treasury in December.
“The third quarter marked another very good quarter for Freddie Mac, with comprehensive income of $2.6 billion,” said Freddie Mac Chief Executive Officer Donald Layton. “This continues our growing quarterly track record of producing stable and strong earnings, all while responsibly supporting the company’s mission and reducing taxpayer exposure to our risks. As we look back on our 10 years in conservatorship, these results make clear that Freddie Mac is a transformed company that plays a key role in reforming and improving America’s housing finance system.”