Freddie Mac Posts Profit In Q1

Freddie Mac posed a profit a $676 million in the first quarter a year after recording a loss of $6.6 billion, reports Housing Wire.

Freddie Mac posed a profit a $676 million in the first quarter a year after recording a loss of $6.6 billion. It was the first time since going into receivership in 2008 that the government-sponsored enterprise did not request funds from the Department of Treasury, which has already given Freddie Mac $64.7 billion to date. The lender also reported the single-family delinquency rate dropped from 3.84% at the end of 210 to 3.63% in the first quarter.

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