Posts by Donald H. Layton
Donald H. Layton is chief executive officer of Freddie Mac, a publicly traded company that is one of the largest sources of mortgage financing in the United States and a leader in the nation's efforts to keep families in their homes and stabilize the housing market.
Today Freddie Mac announced our third quarter financial results, reporting net income of $2.1 billion and comprehensive income of $2.8 billion. Based on these results, we will be returning an additional $2.8 billion to taxpayers in the fourth quarter – bringing the total paid to $91 billion. For more details about our results and progress, please listen to a recording of our call with the media or read the additional resources below.
Last week, we announced our Second-Quarter Financial results, and it was another solid quarter for Freddie Mac – our 11th consecutive quarter of profitability.
This week, Freddie Mac reported strong first quarter 2014 financial results, which marks our 10th consecutive quarter of profitability. Net income was $4.0 billion and comprehensive income was $4.5 billion - which means that we'll be returning an additional $4.5 billion to taxpayers in June. This brings the total we've returned to taxpayers to more than $86 billion, $15 billion more than our cumulative draws from the Treasury.
This week, Freddie Mac reported its fourth quarter and full-year 2013 financial results. Net income totaled $48.7 billion and comprehensive income was at $51.6 billion – both records for the company. The quarter was also a record for pre-tax income at $8.6 billion and marked our ninth consecutive quarter of positive earnings. However, it's important to note that our results included several legacy items that were strongly favorable in 2013, such as legal settlements, but it is our expectation that such items will be considerably smaller in 2014.