Strong and steady. That’s how our transformation is showing up in our financial and business results. In the second quarter of 2018 alone, we reported comprehensive income of $2.4 billion
"Freddie Mac's transformation continued in the second quarter, with good business results and strong financial performance, providing the foundation to effectively deliver upon its mission and improve America's housing finance system."
Over the past 12 months, our transformation is even more evident, producing steady financial results, reducing taxpayer risk through credit risk transfer (CRT) and delivering on our mission. Here’s how:
Steady financial results
Reported $7.2 billion in net income
Returned approximately $7 billion to taxpayers, bringing total dividends paid to $112.4 billion, nearly 60% more than we received from the U.S. Treasury
Reduced taxpayer risk through CRT
Transferred a portion of credit risk on $301 billion in UPB of single–family mortgages for a cumulative total of more than $1 trillion
Transferred the vast majority of credit risk on $72 billion in UPB of multifamily mortgages for a cumulative total of $279 billion
Delivered on our mission
Financed 2.3 million homes for buyers and renters
Made home possible for 343,000 first–time homebuyers
Funded $9.5 billion in mortgages to support renters with the greatest need through our Targeted Affordable Program
Our Multifamily business is the industry leader, with the vast majority of the apartment units funded to affordable low– and moderate–income households
Over the last week, there has been significant discussion about the two companies where we serve as CEOs, Fannie Mae and Freddie Mac, and the independent regulator and conservator that oversees us, the Federal Housing Finance Agency. The issues raised are too important for us not to address.