Freddie Mac reports first loss in four years

Mortgage buyer Freddie Mac said Thursday the average rate on the 30-year mortgage dropped to 3.60% from 3.75% last week. A year ago the rate stood at 4.59%. The average rate. investors hadn’t seen.

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Freddie Mac reported second-quarter net income of $768 million, compared with a $9.9 billion loss in the first quarter and a $821 million deficit in the period a year ago. After payments of $1.1 billion in preferred stock dividends to the U.S. Treasury, Freddie Mac had a net loss of 11 cents per diluted common share.

Freddie Mac on Tuesday posted its first quarterly loss in four years despite a healthy housing market, underscoring the challenges faced by the mortgage-finance giant in its eighth year of government control. The McLean, Va., company reported a loss of $475 million for the third quarter, driven mainly by a quirk in accounting rules.

MCLEAN, VA, Aug 12, 2013 (Marketwired via COMTEX) — Freddie Mac (otcqb:FMCC) is celebrating several milestones this year for its role in supporting. $9 billion of which back unguaranteed first.

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The news is a reminder of the GSE’s net loss in the third quarter of 2015, which marked the first loss in four years. But despite the news, Freddie CEO Donald Layton remains positive on the results.

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A plan to return Fannie Mae and Freddie Mac to private-shareholder ownership could be released as early as next month, The Wall Street Journal reports. The plan is expected to ensure the firms.

(Brena Swanson) Freddie Mac reported a $354 million net loss in the first quarter, significantly down from its .2 billion net income recorded in the fourth quarter of 2015. The news is a reminder of the government-sponsored enterprise’s net loss of $475 million for the third quarter of 2015, which marked its first loss in four years.

On November 3, Freddie Mac announced a loss of $501 million in comprehensive income for the third quarter of 2015 (and a $475 million loss of net income, which involves a slightly different calculation). This was Freddie Mac’s first quarterly loss since the third quarter of 2011. Fannie Mae earned comprehensive income of $2.2 billion (and net.