Freddie Mac Q2 net income $2.9B, up 20% YoY; credit benefit drives earnings

FEDERAL HOME LOAN MORTGAGE CORP

2023-Q2 EPS reported $0.00

Net income $2.9B ($2,944M) vs $2.5B YoY; comprehensive income $2.9B.
Single-Family net income $2.4B (benefit for credit losses $0.6B); Multifamily net income $0.6B (+98% YoY).
Net revenues $5.3B (down 1% YoY); net interest income $4.5B (down 5%).
New business activity $83B (down 40%); serious delinquency rate 0.56% (down from 0.76%).
Mortgage portfolio $3.4T (up 3%); net worth $42.0B.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

FEDERAL HOME LOAN MORTGAGE CORP reported the quarter ended June 30, 2023 results: revenue $5.3 billion, net income $2.9 billion.

Period: the quarter ended June 30, 2023
Revenue: $5.3 billion
Net income: $2.9 billion
Result: reported results

Exact text from the filing

Consolidated • Net income of $2.9 billion, an increase of 20% year-over-year, with the increase primarily driven by a credit reserve release in Single-Family • Net revenues of $5.3 billion, a decrease of 1% year-over-year, as lower net interest income was partially offset by an increase in non-interest income • Benefit for credit losses of $0.5 billion, primarily

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Source: SEC EDGAR

accession 0001026214-23-000076

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