Freddie Mac Generated $2.6B in Q3 Income

Phil Hall

Oct 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.”

Link copied

Published

Oct 31, 2018

Analysis and Data

First American: Housing Market Slowing by Design

Title company’s chief economist says history shows rising mortgage rates may take the steam out of rising house prices, but don’t necessarily trigger a decline.

The housing market is “normalizing” as affordability rapidly declines, forcing both buyers and sellers to adjust their expectations, according to a new report. First American Financial Corp., a provider of title, settlement, and risk solutions for real estate transactions, ...

Industry News

Equifax Telling Lenders Of Potential Errors In Credit Scores

About 12% of customers may have been affected, according to a source.

Updated at 3:30 p.m. on 5/27/22 Equifax, one of the country’s three largest consumer credit reporting agencies, is telling lenders that a coding issue introduced during a technology change to its legacy online model platform may have resulted in the miscalculation of certai...