Fannie, Freddie Q2 Income Surpasses $8 Billion

Fannie Mae’s and Freddie Mac’s combined second-quarter income rose to $8.8 billion from $2.4 billion in the first quarter, the Federal Housing Finance Agency reported today.

The increase was attributed mainly to interest income and gains on derivates, the agency said, adding that the GSEs also saw a $2.2 billion decrease in loan loss reserves due to rising home prices. National home prices rose 5.4 percent from the second quarter of 2014.

Meanwhile, the Federal Home Loan Banks collectively earned $669 million in the second quarter, down from $1 billion in the first quarter.