Plus   Neg

Freddie Mac Reports Q1 Comprehensive Net Income Of $1.7 Billion

Mortgage provider Freddie Mac (FMCC.OB) release its first quarter financial results on Wednesday, reporting comprehensive income of $1.67 billion compared to $2.15 billion in the year-ago period.

Net revenues for the quarter increased to $3.40 billion from $3.34 billion in the prior-year period.

Net interest income for the quarter rose to $3.15 billion from $3.02 billion in the same period last year. Non-interest loss for the quarter was $235 million, compared to non-interest income of $1.83 billion in the year-ago period.

Freddie Mac said it expects to pay a $1.7 billion dividend to the U.S. Treasury in June 2019 based on the company's net worth amount of $4.7 billion at March 31, 2019 less the applicable capital reserve amount of $3.0 billion. The company said its cumulative payments to date total $118.0 billion.

Return on conservatorship capital, or ROCC, improved to 12.7 percent on higher earnings and lower conservatorship capital compared to the preceding quarter.

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT