Today Freddie Mac reported another strong quarter, with net and comprehensive income of $2.2 billion. Because the impact of interest rate movements and credit spreads was near zero, our first quarter results show how Freddie Mac is better serving its mission to responsibly provide liquidity, stability and affordability to the nation’s mortgage markets.
Our total book of guarantee business grew more than six percent in the last year to $1.9 trillion. We did this by improving the technology, products and level of service provided to our lender customers. This enables them, in turn, to responsibly and sustainably provide more competitive pricing and terms to a growing range of homeowners and renters. At the same time, we continue to innovate in transferring mortgage credit risk to private capital markets.
Together, our efforts are building a better housing finance system for America’s homebuyers, renters, lenders and taxpayers. We’re proud to be a leader in this change.
For more details about our results and our transformation, please listen to a recording of our conference call with the media or read the additional resources below.