Freddie Mac Income Declines in Second Quarter

According to a report by Housing Wire on August 1st, Freddie Mac reported a net income of $1.7 billion – and $2 billion in comprehensive income – for the second quarter of 2017, slightly down from $2.2 billion in the first quarter. The article notes that Freddie Mac's adjusted guarantee fee income grew $99 million to $1.67 billion, which the GSE attributed to faster amortization of single family upfront fees driven by an increase in loan payments.

Freddie Mac's dividend obligation to Treasury in September 2017 will be $2 billion, based on Freddie Mac's net worth of $2.6 billion as of June 30, 2017 and the Capital Reserve Amount of $600 million in 2017. However, the article notes that the capital reserve amount at both GSEs will be zero beginning on January 1, 2018.

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