Freddie Mac To Treasury: $19 Million More, Please

Posted by Orb Staff on May 03, 2012 No Comments
Categories : Residential Mortgage

11473_87626296 Freddie Mac To Treasury: $19 Million More, Please Freddie Mac ended the first quarter of this year with a request for $19 million from the U.S. Department of the Treasury.

According to its quarterly statement, Freddie Mac reported ‘net income of $577 million and total other comprehensive income of $1.21 billion.’ The government-sponsored enterprise explained that its new request for $19 million from the Treasury is required because ‘comprehensive income for the first quarter was more than offset by senior preferred dividends paid of $1.81 billion.’

During the first quarter, Freddie Mac says it provided over $114 billion of liquidity to the mortgage market, including approximately $89 billion in single-family refinance volume. It also credited itself as being ‘one of the largest sources of multifamily financing in the U.S., providing funding for more than 86,000 apartment units during the first quarter.’

Furthermore, Freddie Mac says that it ‘helped over 40,000 borrowers avoid foreclosure in the first quarter.’ Its single-family serious delinquency rate was 3.51%, and its multifamily delinquency rate was 0.23%.

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