Today Freddie Mac reported a net loss of $354 million and a comprehensive loss of $200 million for the first quarter of 2016. This loss was mainly caused by the GAAP accounting measurement differences associated with our use of derivatives to hedge interest rate risk, whereby the derivatives are fair valued but many of the assets and liabilities being hedged are not. Importantly, our business results continued to be strong, reflecting our transformation to be a more competitive company.
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.
Perspectives feature insights from our company's leaders into key trends in the housing industry.
EVP Head of Multifamily Business
Vice President and Chief Economist, Economic & Housing Research
SVP & Chief Credit Officer, Single-Family Business
EVP Head of Multifamily Business
Freddie Mac is now a well-run financial institution that produces good earnings without undue volatility, steadily reducing the taxpayers’ exposure to our risks and fulfilling our Congressionally-mandated mission.
2018 was another excellent year for Freddie Mac. Ten years after the financial crisis, our transformed business model continues to produce solid earnings.
Freddie Mac is performing exceptionally well. Our company's financial performance is very strong and we're fully supporting our mission of creating liquidity, stability and affordability.
The mortgage system we have today is fundamentally better than the one we had ten years ago, plain and simple. It is more safe-and-sound, more efficient and does a far better job of protecting taxpayers.
Freddie Mac's transformation continued in the second quarter, with good business results and strong financial performance, providing the foundation to effectively deliver upon our mission and improve America's housing finance system.
Freddie Mac delivered $2.2 billion of comprehensive income this quarter, despite a major change in interest rates.
Today, Freddie Mac reported full-year 2017 net and comprehensive income of $5.6 billion. It was a landmark year in Freddie Mac's transformation, reaching several very significant milestones.
Today Freddie Mac reported net income and comprehensive income of $4.7 billion, clearly a strong quarter. This reflects the growing strength of our business model as well as an improving quality of execution.
Today Freddie Mac reported net income of $1.7 billion and comprehensive income of $2.0 billion. Our continued very solid financial results and strong business fundamentals reflect our transformation into a well-run commercial enterprise.
Today Freddie Mac reported another strong quarter. Our first-quarter results show how we're better serving our mission.
Today Freddie Mac reported our fifth straight year of profitability. Our results reflect an improving economy and the very successful transformation of the company.
Today Freddie Mac reported third quarter 2016 business results that strongly reflect our improving business fundamentals and competitiveness.
Today Freddie Mac reported solid financial and business results for second quarter 2016, highlighted by strong new guarantee business volumes.
Today Freddie Mac reported our fourth consecutive year of profitability. Our results were driven by our progress in building a better Freddie Mac and a better housing finance system.