Freddie Mac may be in conservatorship, but Wednesday's earnings shows it’s actually in growth mode.

The nation’s major mortgage financier reports a “robust 5% total guarantee book growth, year over year — Single-Family grew 4% and Multifamily grew 14%.”

Additional the, underlying credit quality remains strong — single-family serious delinquency rate declined to 0.67%, while multifamily delinquency rate continues near zero at 0.03%.

Solid business revenues, strong credit quality, lower market-related volatility, and continued guarantee portfolio growth delivered $1.7 billion of comprehensive income, up 13% from the prior quarter, the company said.

The GSE's market-related impact was near zero, compared to a $0.6 billion loss in the prior quarter.

Additionally, the GSE expects to deliver a $1.7 billion dividend to the U.S. Treasury by June 2019; increasing its cumulative payments to date to a total to $118 billion.

The GSE said that its return on conservatorship capital improved to 12.7% based on higher earnings and lower conservatorship capital compared to the prior quarter.

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