freddie mac (FHL) Snapshot

Federal Home Loan Mortgage Corporation announced that Richard C. Hartnack, former vice chairman and head of consumer and small business banking at U.S. Bancorp, was elected as a director on the company's board. Hartnack, age 67, was responsible for management of more than 3,000 U.S. Bank branches in 25 states delivering services to more than eight million clients. Hartnack is a past director of the Federal Reserve Bank of San Francisco, MasterCard International (US Region), Union BanCalCorporation and U.S. Bank (a subsidiary of U.S. Bancorp). He also previously served as chairman of the California Bankers Association, Bank Administration Institute and the Los Angeles Urban League.

Federal Home Loan Mortgage Corporation reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company's net interest income was $4,265 million compared with $4,500 million a year ago. Income before income tax benefit was $4,546 million compared with $563 million a year ago. Net income was $4,581 million compared with $577 million a year ago. Net loss attributable to common stockholders was $2,390 million compared with $1,227 million a year ago.

Federal Home Loan Mortgage Corporation announced Loan Quality Advisor(SM), a new online loan tool that gives lenders an automated way to identify credit, data and purchase eligibility issues before they deliver loans to Freddie Mac. By helping lenders spot and fix potential problems earlier in the loan manufacturing process, Loan Quality Advisor can make Freddie Mac's purchase requirements more transparent and give lenders greater certainty in the loans they sell to Freddie Mac. Loan Quality Advisor also gives lenders Freddie Mac's view of credit risk on mortgages that were not originated on Loan Prospector(R), Freddie Mac's automated underwriting service. Loan Quality Advisor marks the launch of Freddie Mac's new Greater Purchase Certainty initiative to help lenders improve loan quality while making business with Freddie Mac more efficient and transparent for all Freddie Mac customers.