What was that old criticism about Fannie Mae and Freddie Mac (pre-conservatorship) – that their risk was “public” but their profits were private? Well, guess what? Their risk is still public – but their profits are too. Freddie earned $5.6 billion in 3Q, Fannie $2.6 billion. Annualized, that translates into $32.8 billion – money that will go straight into the Treasury’s coffers. But let’s not forget about their little sister, Ginnie Mae, which earned $606 million in fiscal year 2012. And it all started under a Republican president George W. Bush and continued under a Democrat who never ran a business in his life, except for maybe a lemonade stand when he was a kid in Hawaii.
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The San Diego company was back in the black with a net income of $28.5 million in the first quarter of 2024, up from a net loss of $93 million the previous quarter.
9h ago -
The agreements at the heart of the hearing did not cover the one reached with the National Association of Realtors or those people that only bought homes.
9h ago -
Feds say Chicago businessman Mark Steven Diamond defrauded at least 80 victims and caused at least $6 million in losses.
10h ago -
Fannie Mae's tool, used by originators to determine income levels for self-employed borrowers, aims to help them avoid potential underwriting errors, the government-sponsored enterprise said.
11h ago -
The 30-year fixed rate mortgage fell for the first time in six weeks as the Federal Open Market Committee meeting outcome is finally priced in.
May 9 -
The home purchase market right now is healthier than it was last year, said CEO Mat Ishbia, noting a 24% increase in volume over the recent period compared to Q1 2023.
May 9