Freddie Mac Q4 net income $2.9B, up 65% YoY; full-year $10.5B, up 13%

FEDERAL HOME LOAN MORTGAGE CORP

2023-FY EPS reported -$0.05

Net income of $2.9B for Q4 2023, up 65% YoY; full-year 2023 net income $10.5B, up 13% YoY.
Net revenues $5.4B, up 11% YoY, driven by higher net interest income and non-interest income.
Benefit for credit losses $0.5B in Q4 vs. provision of $0.6B in Q4 2022, due to house price improvements.
Single-Family net income $2.7B, up 80% YoY; Multifamily net income $0.3B, down 10% YoY.
Net worth increased to $47.7B; total mortgage portfolio $3.5T, up 2% YoY.

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 0.9

FEDERAL HOME LOAN MORTGAGE CORP reported the fourth quarter and full-year ended December 31, 2023 results: revenue $5.4 billion, net income $2.9 billion.

Period: the fourth quarter and full-year ended December 31, 2023
Revenue: $5.4 billion
Net income: $2.9 billion
Result: reported results

Exact text from the filing

and a credit reserve release in Single-Family in the fourth quarter of 2023 compared to a credit reserve build in Single-Family in the fourth quarter of 2022. • Net revenues of $5.4 billion, an increase of 11% year-over-year, driven by higher net interest income and non-interest income. • Benefit for credit losses of $0.5 billion, primarily driven by a credit

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Source: SEC EDGAR

accession 0001026214-24-000026

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