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Fannie/Freddie Income and Net Worth Increased in Q1

Monday, May 3, 2021

Both Fannie Mae and Freddie Mac reported improved income during the first quarter of 2021. Fannie Mae said its net income increased from $4.57 billion in the fourth quarter of 2020 to $4.99 while Freddie Mac reported a net of $2.77 billion and comprehensive income of $2.38 billion, down slightly for the quarter but significantly higher than a year earlier. Fannie Mae said its net revenues totaled $6.829 billion, down from $7.245 billion the previous quarter, with a decline f $344 million in interest income and $72 million less in fee and other income to $6.74 billion and $87 million, respectively. The decline in interest income was due to lower levels of single-family mortgage prepayments in the first quarter. The company expects that lower levels of refinancing in the future will likely result in fewer loan prepayments and lower amortization income in any given period.

 

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Linden was very professional, knowledgeable, efficient, patient and personable. All of these qualities played an important part of processing and closing the loan. Linden was great through the whole process of working with me, to working with the real estate company, and other offices involved. I know the seller’s real estate agent was rude and hard to work with at times. It was unfortunate that Linden had to deal with it but he handled the situation professionally. Also, I was gone 95% of the time traveling for work while buying the home. Linden was great about working with me while I was away and helped keep things moving and organized. It was greatly appreciated.
Victoris S.