Freddie Posts Q1 Gain Despite Pandemic Hit; Rates Not Quite Back to All-Time Lows

Freddie Posts Q1 Gain Despite Pandemic Hit; Rates Not Quite Back to All-Time Lows

Freddie Mac eked out a positive comprehensive income of $0.62 billion in the first quarter, $1.83 billion less than it posted in the fourth quarter of 2019 and $1.04 billion below earnings a year earlier. The company's CEO David M. Brickman said, "Freddie Mac's first quarter was marked by unprecedented challenges to our country, our business, and our markets - and I am very proud of how we have responded. We are offering relief to millions of homeowners and renters, supporting our customers in new and vital ways, and serving as a stabilizing force for the housing finance system. Through these efforts, we are continuing to fully serve our mission." Net revenues were $2.42 billion compared to $4.57 billion the previous quarter and $2.91 billion in the first quarter of 2019. The majority of the