Government-sponsored enterprise (GSE) Freddie Mac reported a 65% annualized increase in income stemming from its single-family mortgage programs in fourth-quarter 2023, along with a 13% increase in net income for the full year, according to quarterly and annual earnings reports released on Wednesday.

The full-year profit for 2023 reached $10.5 billion, the report stated. This represented a 13% year-over-year increase that was “primarily driven by a credit reserve release in single-family in 2023 compared to a credit reserve build in single-family in 2022,” and was partially offset by higher details ⇒

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