McLEAN, Va. - The Federal Home Loan Mortgage Corp. reported on Thursday second-quarter income of $180 million, a 9% increase over year-earlier results. Earnings per share were 94 cents, up from 88 cents.
For the first six months of 1993, earnings per common share were $2, compared with $1.66 per common share for the first six months of 1992.
John Gibbons, acting chief financial officer, said the company had a $24 million increase in net interest margin as management and guarantee fees rose. He said income from retained mortgages also climbed as the average balance of the portfolio rose 64%. The resulting gain in income, however, was partially offset by higher funding costs.