Bill Pulte, director of the Federal Housing Finance Agency (FHFA) and chairman of Freddie Mac’s board of directors, said the results reflected what he described as disciplined execution.
“Net income was $3.8 billion, driven by strong revenues, a credit benefit and continued cost discipline,” Pulte said in a statement.
Non-interest expense fell 3% year-over-year to $2.1 billion, reflecting what Freddie characterized as continued operational efficiency.
Credit release reshapes the bottom line
The credit benefit of $880 million — versus an $783 million provision in the second quarter of 2025 — was the clearest driver of the year-over-year swing.
Chief financial officer James Whitlinger, executive vice president at Freddie Mac in McLean, Virginia, attributed the release to updates in the company’s process for modeling future house price scenarios.
