GSE’s Post Quarterly Profits; It all Goes to Treasury

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Posted To: MND NewsWire

Both of the government sponsored enterprises (GSEs) released second-quarter financial results this week. Each had, to varying degrees, better outcomes than in the first quarter of this year, but substantial losses compared to one year earlier. Freddie Mac reported a net income of $1.5 billion and comprehensive income of $1.8 billion in the second quarter of 2019. The figures were only slightly changed from the first-quarter net of $1.4 billion and comprehensive total of 1.7 billion but were significantly lower than the figures of $2.5 billion and $2.4 billion generated in the second quarter of 2018. Net interest income was $2.9 billion, down by $226 million from the previous quarter and $76 million less than the prior year while Guarantee Fee Income of $222 million was up slightly from the…(read more)

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