Scotsman Guide > News > May 2017 > News Story

 Enter your e-mail address and password below.

  •  
  •  

Forgot your password? New User? Register Now.

News Archives

 
Subscribe icon Subscribe to our weekly e-newsletter, Top News.

Freddie Mac posts solid Q1 profit


The government-sponsored enterprise Freddie Mac posted a solid profit in the first quarter and will likely return a $2.2 billion dividend payment to taxpayers in June.

Freddie reported comprehensive and net income of $2.2 billion in the quarter. Unlike in recent quarters, however, its bottom-line earnings were not affected much by paper gains or losses from swings in interest rates.

Market factors accounted for an after-tax gain of roughly $100 million, as opposed to $2.2 billion in the fourth quarter, Freddie reported.

“It was a very solid quarter and the numbers are starting to speak for themselves,” Chief Executive Officer Donald Layton said on Thursday during a morning call with reporters.

“I want to note that our first quarter results experienced a minimum impact from market moves, which has only happened one other time in the last three years.”

Layton noted that Freddie has switched to a “hedge accounting” system in February, which will cut down the volatility that has been appearing in the earnings reports by roughly 50 percent. This move should make future reports more revealing of the company’s “strong business fundamentals.” 


 

Questions? Contact at (425) 984-6017 or victorw@scotsmanguide.com.

Bubble 0 Comments

By submitting this comment, you agree to comply with our Terms of Use.



The text exceeds the maximum number of characters allowed.


Are you sure you want to permanently delete this blog comment? This action cannot be reversed.



You must enable your community profile to use this feature.

Cancel Enable profile

You have flagged this post for inappropriate content.

Please explain below. Thank you.

Cancel Submit

Get the latest news and articles from Scotsman Guide straight to your inbox.


Send me the following e-mails:





Learn more about Scotsman Guide e-mails

Thank you for signing up to receive e-mails from Scotsman Guide.

A confirmation e-mail has been sent to the address you provided.

For questions regarding your e-mail subscriptions please contact Circulation@ScotsmanGuide.com or call (800) 297-6061.


Fins A Lender Post a Loan
Residential Find a Lender Commercial Find a Lender
Follow Us:Visit Scotsman Guide Facebook pageVisit Scotsman Guide LinkedIn pageVisit Scotsman Guide g+ pageVisit Scotsman Guide Twitter page
 
 
 
 

 
 

© 2017 Scotsman Guide Media. All Rights Reserved.  Terms of Use  |  Privacy Policy