Quarterly earnings at the Federal Home Loan Mortgage Corp. improved, leaving the secondary lender with a tab from the Treasury Department for dividends. Secondary marketing production increased.

Freddie Mac earned $3.1 billion before income tax expense during the three months ended mid-year 2018, according to its second-quarter earnings report released Tuesday.

Income improved from $2.5 billion during the same-three months last year. Earnings fell short, though, of the first-three months of this year, when income came to $3.7 billion.

Source: Mortgage Daily