Although earnings were halved on a quarter-over-quarter basis, the Federal Home Loan Mortgage Corp. is delivering another $2.2 billion to taxpayers.

Pre-tax income at Freddie Mac was $3.3 billion from Jan. 1, 2017, through March 31, sinking from $7.4 billion in the preceding three-month period.

The McLean, Virginia-based firm revealed its income, along with other financial and operational results, in its first-quarter 2017 earnings report.

Source: Mortgage Daily