fha mortgage loans, local mortgage broker, midwest family lending

(515) 252-7107

APPLY NOW!

Mortgage Industry News

« Return to Mortgage Industry News

Fannie and Freddie Remain Profitable Despite Mortgage Delinquencies

Thursday, July 30, 2020

Both government supported enterprises (GSE) reported increased profits in the second quarter of 2020 compared to Q1. Fannie Mae said its net comprehensive income was $2.53 billion compared to $476 million and Freddie Mac's quarterly results were 1.94 billion, an increase of $1.32 billion from the previous period.

Both companies had reported extraordinarily low net profits in Q1, largely due to a shift from credit-related income to credit-related expenses as allowances for loan losses were increased to reflect expected impacts from the COVID-19 pandemic. Freddie Mac also attributed the Q1 downturn to lower net interest income.

Read Full Article

Testimonial

"Jason is a man of integrity, he's knowledgeable, professional, and very reliable.. He is also very personable and he explained questions we had."
Doris W.