Freddie Mace CEO Don Layton

WASHINGTON, DC–Freddie Mac posted strong quarterly earnings for the first quarter with comprehensive income of $2.2 billion overall and of $404 million for multifamily. CEO Don Layton was happy to explain why the GSE performed well during the earnings call. One, unlike in the past few quarters there were no significant items that noticeably impacted results. Two, legacy asset disposition and market spreads tightening together had only a small aggregate effect on the bottom line. Three, because the GSE has shifted to hedge accounting, the rise in interest rates only reduced earnings by about $160 million.