Freddie Mac reports 27% jump in first-quarter net income
Updated
Updated · MarketWatch · Apr 30
Freddie Mac reports 27% jump in first-quarter net income
11 articles · Updated · MarketWatch · Apr 30
The government-conserved mortgage finance company posted $3.56 billion in profit on $6.13 billion of net revenue, helped by a credit reserve release.
Net interest income rose 10% to $5.62 billion, while non-interest income fell 31% to $514 million on lower guarantee income and weaker investment gains.
Single-family new business climbed to $103 billion from $78 billion, driven by refinancing, while multifamily activity increased to $13 billion from $10 billion.
As Freddie Mac’s profits surge, is it underestimating future risks by releasing its credit reserves?
With its net worth soaring, what final hurdles keep Freddie Mac under government control after 18 years?
How will Freddie Mac's new AI and credit score models change who gets approved for a mortgage?