Freddie Mac reports $2.4 billion in comprehensive income in Q2

Mortgage-backed securities giant Freddie Mac posted a comprehensive income of $2.4 billion in the second quarter of 2018, up from the $2.2 billion the government-sponsored, publicly traded company posted in the first quarter of 2018 and $2 billion it posted in the second quarter of 2017.

“Freddie Mac’s transformation continued in the second quarter, with good business results and similarly good financial performance,” said Freddie Mac CEO Donald Layton in a prepared statement. “In business operations, our guarantee book grew significantly, credit quality was high, and we are generating a consistent stream of new innovations for our customers.”

Freddie Mac guaranteed $84 billion in new single-family loan originations – with purchase volume up 29 percent year-over-year – and $16 billion in new multi-family loan originations, up 13 percent year-over-year, according to the release.

Single-family delinquency rates dropped to 0.82 percent – the lowest level since early 2008 — and multi-family delinquency rates remained at historic lows near zero or 0.01 percent, according to the release.

Part of the Freddie Mac’s strong revenue numbers were driven by a $334 million pre-tax litigation judgement in favor of the company, according to the release.

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Freddie Mac reports $2.4 billion in comprehensive income in Q2 curated from Inman

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