Browsing: GSEs

Newsbytes

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

Mortgage

The number of home loans backed by Fannie Mae and Freddie Mac that are 60 days or more past due or are in the foreclosure process fell 6 percent in the second quarter of 2015, following a 9 percent drop in the first quarter, according to the Federal Housing Finance Agency’s foreclosure prevention report released today.

Mortgage

Fannie Mae today said that it earned net income of $4.6 billion in the second quarter. Like Freddie Mac’s report this week, Fannie’s profits improved from the first quarter, landing above the $3.7 billion earned in the second quarter of 2014. Fannie’s income grew mainly due to fair value gains, partially offset by credit expenses,

Mortgage

Freddie Mac today reported a $4.2 billion profit in the second quarter, up significantly from the $1.4 billion the company earned in the second quarter of 2014 and marking Freddie’s 15th consecutive profitable quarter.

Mortgage

The conforming loan limits for mortgages that Fannie Mae and Freddie Mac will purchase are too high, ABA said in a comment letter yesterday. Given post-crisis house price declines, the average mortgage loan amounted to $294,000 in March 2014 — well below the GSEs’ $417,000 and $625,500 in high-cost areas.

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