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