Browsing: GSEs

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.

Mortgage

Fannie Mae’s and Freddie Mac’s combined first-quarter earnings were $2.4 billion, up from the $1.5 billion they earned in the fourth quarter of 2014 but down substantially from the $9.3 billion they earned a year before, the Federal Housing Finance Agency reported today.

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 9 percent in the first quarter, following a 3 percent drop in the fourth quarter of 2014, according to the Federal Housing Finance Agency’s foreclosure prevention report released today.

Mortgage

The Federal Home Loan Banks of Seattle and Des Moines, Iowa, today announced that their merger is complete. The combined entity, serving nearly 1,500 financial institutions in 13 upper Midwestern and northwestern states plus Pacific island territories, remains headquartered in Des Moines.

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