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Freddie Mac posted net income of $2.74 billion



8:36 am ET February 10, 2022 (Dow Jones) - By Kimberly Chin



The Federal Home Loan Mortgage Corp., otherwise known as Freddie Mac,
posted greater revenue in the fourth quarter due to higher net interest
income, which increased 30% year over year, to $4.8 billion.

The government-backed housing-finance company said net revenue rose
to $5.57 billion from $5.02 billion a year ago.

Revenue was also boosted by continued mortgage-portfolio growth and
higher average portfolio guarantee fee rates within the single-family
segment, the company said.

Single-family revenue rose to $4.7 billion from $3.41 billion in the year-ago
quarter. Revenue from the multifamily business was $863 million, down
from $1.61 billion in the comparable period last year.

Freddie Mac posted net income of $2.74 billion, down from $2.91 billion
in last year's fourth quarter.

The single-family serious-delinquency rate continued to improve, falling
to 1.12% from 1.46% in the third quarter and from 2.64% 12 months ago.
Multifamily serious delinquencies were 0.08%, compared with 0.12% in
the third quarter and 0.16% 12 months ago.


Write to Kimberly Chin at [e-mail]


(END) Dow Jones Newswires

February 10, 2022 08:36 ET (13:36 GMT)

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