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The Week Ahead: The Year at Freddie Mac

Freddie Mac will release its Q4 2o18 and full year results on Thursday, February 14 before the markets open. The government-sponsored enterprise (GSE) said that it would hold a conference call at 9 a.m. EST to discuss the results and the call would be concurrently webcast.

In Q3, the GSE, which completed 10 years under conservatorship this year, reported a comprehensive income of $2.6 billion driven primarily by “stable business revenues and strong credit quality.” This included a $0.2 billion (after-tax) net benefit from single-family legacy asset dispositions and a $0.2 billion (after-tax) benefit from reducing the write-down of the net deferred tax asset from the tax reform legislation last year.

Freddie Mac said that it would also fulfill its $2.6 billion dividend requirement to the U.S. Treasury in December and that it had made cumulative payments totaling $114 billion to the Treasury to date.

It also reported strong business fundamentals that helped it to grow during the quarter. Its total guarantee portfolio grew 6 percent to $2.1 trillion while its single-family total originations decreased 6 percent to $231 billion. Though its refinance volume decreased 30 percent, Freddie Mac reported a 12 percent increase in its purchase volume.

Here's what else is in store in the week ahead:

  • CoreLogic Loan Performance Insights Report, Tuesday, 10 a.m. EST
  • MBA Mortgage Apps, Wednesday, 7 a.m. EST
  • House Committee Hearing: “Homeless in America: Examining the Crisis and Solutions to End Homelessness, Wednesday, 10 a.m. EST
  • Senate Committee Hearing on Nomination of Mark Calabria, Thursday, 10 a.m. EST
  • Freddie Mac Primary Mortgage Market Survey, Thursday, 10 a.m. EST

About Author: Radhika Ojha

Radhika Ojha is an independent writer and editor. A former Online Editor and currently a reporter for MReport, she is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her master’s degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas.
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