Investments

Freddie Mac keeps growing, up 5% just this year

$1.7 billion in comprehensive income in 4Q

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.

Most Popular Articles

Regulators slap mortgage LOs with fines for skipping class

More than 400 mortgage LOs will pay penalties after a multi-state investigation alleged they falsely claimed they completed an annual continuing education requirement.

Jan 18, 2022 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please