Fannie Mae today reported a $1.1 billion profit for the first quarter of 2016, following a $2.5 billion gain in the previous quarter. The decrease in profit was largely attributed to fair value losses as a result of decreased longer-term interest rates, offset by credit-related income. Freddie Mac earlier this week reported a loss for the first quarter.
Republic First Bank closed in Pennsylvania
State regulators closed Republic First Bank, doing business under the Republic Bank brand, in Philadelphia, and appointed the FDIC as...